Algert Global LLC Sells 200,068 Shares of Nextdoor Holdings, Inc. $KIND

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 cut its holdings in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 19.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 834,557 shares of the company's stock after selling 200,068 shares during the quarter. Algert Global LLC owned approximately 0.22% of Nextdoor worth $1,277,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in shares of Nextdoor by 77.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock worth $25,000 after acquiring an additional 4,514 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Nextdoor during the 4th quarter valued at approximately $27,000. Two Sigma Securities LLC acquired a new position in Nextdoor during the 4th quarter worth approximately $34,000. Hurley Capital LLC bought a new position in Nextdoor in the 1st quarter valued at approximately $38,000. Finally, Westside Investment Management Inc. bought a new position in Nextdoor in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 35.66% of the company's stock.

Nextdoor Trading Up 2.9%

NYSE:KIND traded up $0.06 during trading hours on Thursday, hitting $2.11. 3,046,039 shares of the company were exchanged, compared to its average volume of 1,839,480. The stock has a market capitalization of $807.26 million, a price-to-earnings ratio of -8.79 and a beta of 1.19. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $3.00. The company has a fifty day simple moving average of $1.79 and a 200 day simple moving average of $1.74.

Wall Street Analyst Weigh In

KIND has been the topic of a number of research reports. Morgan Stanley cut shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 target price on the stock. in a research note on Tuesday, May 13th. B. Riley initiated coverage on Nextdoor in a report on Wednesday, June 25th. They set a "neutral" rating and a $2.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $2.21.

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.