Straightline Group LLC Makes New Investment in Nextdoor Holdings, Inc. (NYSE:KIND)

Straightline Group LLC purchased a new stake in Nextdoor Holdings, Inc. (NYSE:KIND) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 20,736 shares of the company’s stock, valued at approximately $49,000.

Several other hedge funds also recently modified their holdings of KIND. Renaissance Technologies LLC increased its holdings in Nextdoor by 98.2% in the 4th quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company’s stock worth $9,402,000 after purchasing an additional 1,965,300 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Nextdoor by 115.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,696,339 shares of the company’s stock worth $6,390,000 after purchasing an additional 1,444,343 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Nextdoor by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock valued at $41,735,000 after buying an additional 1,041,258 shares during the period. JPMorgan Chase & Co. raised its holdings in Nextdoor by 72.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,252,571 shares of the company’s stock valued at $2,969,000 after buying an additional 527,226 shares during the last quarter. Finally, Cannell Capital LLC boosted its position in Nextdoor by 8.4% during the 4th quarter. Cannell Capital LLC now owns 6,733,574 shares of the company’s stock worth $15,959,000 after buying an additional 524,342 shares during the period. Institutional investors and hedge funds own 35.66% of the company’s stock.

Nextdoor Price Performance

Shares of KIND stock opened at $1.45 on Tuesday. The stock has a market capitalization of $558.21 million, a PE ratio of -4.52 and a beta of 1.16. The business’s 50 day simple moving average is $2.11 and its 200 day simple moving average is $2.34. Nextdoor Holdings, Inc. has a one year low of $1.35 and a one year high of $3.00.

Nextdoor (NYSE:KIND) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $65.23 million for the quarter, compared to analyst estimates of $63.12 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. As a group, research analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

KIND has been the subject of several recent research reports. The Goldman Sachs Group decreased their price target on shares of Nextdoor from $3.00 to $2.50 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Craig Hallum began coverage on Nextdoor in a report on Thursday, January 30th. They issued a “buy” rating and a $4.00 price objective for the company.

Insider Buying and Selling at Nextdoor

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.72, for a total value of $25,800.00. Following the completion of the sale, the general counsel now directly owns 267,445 shares of the company’s stock, valued at approximately $460,005.40. The trade was a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 46.04% of the company’s stock.

About Nextdoor

Nextdoor Holdings, Inc operates a neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. The company enables neighbors and organizations to get information, give and get help, and build connections. It also offers advertising solutions, designs to generate value for businesses for connection and sales expansion.