Nextdoor Holdings, Inc. $KIND Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in Nextdoor Holdings, Inc. by 19.3%, now holding approximately 0.22% of the company with a value of about $1.28 million.
• Several institutional investors have increased their positions in Nextdoor, including CenterBook Partners LP, which lifted its stake by 141.9% during the same period.
• Recent analyst reports show a consensus rating of "Hold" for Nextdoor stock with an average price target of $2.21, although Morgan Stanley downgraded it to an "underweight" rating with a target of $1.10.

Algert Global LLC decreased its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 19.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 834,557 shares of the company's stock after selling 200,068 shares during the period. Algert Global LLC owned about 0.22% of Nextdoor worth $1,277,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Nextdoor by 4.2% during the first quarter. Vanguard Group Inc. now owns 18,352,384 shares of the company's stock valued at $28,079,000 after purchasing an additional 742,578 shares during the last quarter. Potrero Capital Research LLC increased its stake in Nextdoor by 22.8% during the fourth quarter. Potrero Capital Research LLC now owns 3,557,997 shares of the company's stock valued at $8,432,000 after purchasing an additional 660,759 shares during the last quarter. Westerly Capital Management LLC increased its stake in Nextdoor by 47.6% during the fourth quarter. Westerly Capital Management LLC now owns 3,100,000 shares of the company's stock valued at $7,347,000 after purchasing an additional 1,000,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Nextdoor by 33.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,016,850 shares of the company's stock valued at $7,150,000 after purchasing an additional 762,005 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Nextdoor by 177.6% during the fourth quarter. Millennium Management LLC now owns 2,999,267 shares of the company's stock valued at $7,108,000 after purchasing an additional 1,918,884 shares during the last quarter. Institutional investors own 35.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KIND. B. Riley assumed coverage on shares of Nextdoor in a research note on Wednesday, June 25th. They set a "neutral" rating and a $2.00 target price for the company. Morgan Stanley lowered shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price target for the company. in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $2.21.

Nextdoor Price Performance

Shares of Nextdoor stock traded up $0.15 on Monday, hitting $2.06. The company had a trading volume of 2,879,851 shares, compared to its average volume of 1,839,480. The business has a 50-day simple moving average of $1.77 and a 200-day simple moving average of $1.74. The company has a market cap of $788.13 million, a PE ratio of -8.58 and a beta of 1.19. Nextdoor Holdings, Inc. has a 52 week low of $1.3201 and a 52 week high of $2.9950.

Nextdoor 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.