Cubist Systematic Strategies LLC Invests $1.36 Million in Nextdoor Holdings, Inc. (NYSE:KIND)

Cubist Systematic Strategies LLC bought a new position in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 574,280 shares of the company's stock, valued at approximately $1,361,000. Cubist Systematic Strategies LLC owned approximately 0.15% of Nextdoor as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of KIND. Titleist Asset Management LLC increased its stake in shares of Nextdoor by 1.1% during the 4th quarter. Titleist Asset Management LLC now owns 381,750 shares of the company's stock worth $905,000 after purchasing an additional 4,000 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Nextdoor by 77.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock worth $25,000 after buying an additional 4,514 shares during the last quarter. Invesco Ltd. increased its position in Nextdoor by 2.2% during the fourth quarter. Invesco Ltd. now owns 243,395 shares of the company's stock worth $577,000 after buying an additional 5,178 shares during the last quarter. AXQ Capital LP acquired a new position in Nextdoor during the fourth quarter worth approximately $25,000. Finally, SVB Wealth LLC acquired a new position in Nextdoor during the fourth quarter worth approximately $27,000. Institutional investors own 35.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lowered their price target on Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Craig Hallum assumed coverage on Nextdoor in a research report on Thursday, January 30th. They set a "buy" rating and a $4.00 price target on the stock. Finally, Morgan Stanley downgraded Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price target on the stock. in a research report on Tuesday.

Nextdoor Stock Up 1.0%

Shares of Nextdoor stock traded up $0.02 on Friday, hitting $1.46. The stock had a trading volume of 1,609,718 shares, compared to its average volume of 1,820,423. Nextdoor Holdings, Inc. has a twelve month low of $1.32 and a twelve month high of $3.00. The business's 50 day moving average is $1.52 and its two-hundred day moving average is $2.13. The stock has a market cap of $562.07 million, a price-to-earnings ratio of -4.55 and a beta of 1.16.

Nextdoor (NYSE:KIND - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $54.18 million for the quarter, compared to the consensus estimate of $53.14 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. As a group, equities analysts predict that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Sophia Schwartz sold 15,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.72, for a total transaction of $25,800.00. Following the completion of the transaction, the general counsel now directly owns 267,445 shares of the company's stock, valued at $460,005.40. This trade represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 46.04% of the company's stock.

Nextdoor Company Profile

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.