California State Teachers Retirement System Lowers Stock Position in Nextdoor Holdings, Inc. (NYSE:KIND)

California State Teachers Retirement System trimmed its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 61.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,165 shares of the company's stock after selling 248,660 shares during the period. California State Teachers Retirement System's holdings in Nextdoor were worth $370,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Nextdoor in the 4th quarter worth approximately $27,000. Mackenzie Financial Corp purchased a new stake in Nextdoor during the fourth quarter valued at approximately $382,000. Public Employees Retirement System of Ohio purchased a new position in shares of Nextdoor in the fourth quarter worth $193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Nextdoor by 38.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,072 shares of the company's stock worth $1,105,000 after buying an additional 128,511 shares during the last quarter. Finally, Wexford Capital LP purchased a new position in shares of Nextdoor in the fourth quarter worth $474,000. 35.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KIND. Morgan Stanley lowered shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price objective on the stock. in a research note on Tuesday, May 13th. The Goldman Sachs Group decreased their price objective on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a report on Monday, April 14th.

Nextdoor Price Performance

Shares of KIND stock traded down $0.04 during trading on Friday, reaching $1.52. The company's stock had a trading volume of 1,587,880 shares, compared to its average volume of 1,781,285. The company has a market capitalization of $579.62 million, a price-to-earnings ratio of -4.73 and a beta of 1.16. The stock's 50-day moving average price is $1.50 and its 200 day moving average price is $1.99. Nextdoor Holdings, Inc. has a 1-year low of $1.32 and a 1-year high of $3.00.

Nextdoor (NYSE:KIND - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The firm had revenue of $54.18 million during the quarter, compared to analysts' expectations of $53.14 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. On average, sell-side analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

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.