D. E. Shaw & Co. Inc. Raises Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

D. E. Shaw & Co. Inc. raised its position in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 193.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,082,482 shares of the company's stock after buying an additional 1,371,705 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.54% of Nextdoor worth $4,935,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in KIND. JPMorgan Chase & Co. raised its stake in shares of Nextdoor by 62.2% in the third quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company's stock valued at $1,799,000 after buying an additional 278,185 shares during the period. SG Americas Securities LLC grew its holdings in Nextdoor by 51.9% during the 4th quarter. SG Americas Securities LLC now owns 95,537 shares of the company's stock valued at $226,000 after buying an additional 32,658 shares in the last quarter. R Squared Ltd bought a new stake in shares of Nextdoor during the fourth quarter valued at about $45,000. Cornerstone Partners Capital Management LLC increased its position in shares of Nextdoor by 83.9% during the fourth quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company's stock valued at $1,390,000 after buying an additional 267,527 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in shares of Nextdoor by 103.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 64,803 shares of the company's stock valued at $157,000 after buying an additional 33,023 shares during the period. 35.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Nextdoor Price Performance

NYSE KIND traded up $0.02 during trading on Friday, reaching $1.48. The company's stock had a trading volume of 1,870,451 shares, compared to its average volume of 1,816,979. The stock has a market capitalization of $564.32 million, a PE ratio of -4.61 and a beta of 1.16. The firm has a fifty day moving average of $1.50 and a 200 day moving average of $2.09. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $3.00.

Nextdoor (NYSE:KIND - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $54.18 million for the quarter, compared to analyst estimates of $53.14 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. Research analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group decreased 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. Morgan Stanley cut 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, May 13th. Finally, 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.

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.