D. E. Shaw & Co. Inc. Buys 1,371,705 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

D. E. Shaw & Co. Inc. lifted its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 193.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,082,482 shares of the company's stock after acquiring an additional 1,371,705 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.54% of Nextdoor worth $4,935,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Nextdoor by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company's stock worth $41,735,000 after acquiring an additional 1,041,258 shares in the last quarter. Cannell Capital LLC grew its stake in Nextdoor by 8.4% in the fourth quarter. Cannell Capital LLC now owns 6,733,574 shares of the company's stock worth $15,959,000 after purchasing an additional 524,342 shares during the period. Geode Capital Management LLC raised its holdings in Nextdoor by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 4,258,509 shares of the company's stock worth $10,095,000 after purchasing an additional 215,781 shares in the last quarter. Renaissance Technologies LLC lifted its position in Nextdoor by 98.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company's stock valued at $9,402,000 after buying an additional 1,965,300 shares during the period. Finally, Westerly Capital Management LLC lifted its position 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 buying an additional 1,000,000 shares during the period. Institutional investors own 35.66% of the company's stock.

Nextdoor Trading Down 0.3%

NYSE:KIND traded down $0.01 during trading hours on Wednesday, reaching $1.45. 1,366,585 shares of the company traded hands, compared to its average volume of 1,815,482. The business's 50-day moving average price is $1.51 and its two-hundred day moving average price is $2.11. Nextdoor Holdings, Inc. has a 1 year low of $1.32 and a 1 year high of $3.00. The stock has a market capitalization of $552.84 million, a P/E ratio of -4.52 and a beta of 1.16.

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

Insider Transactions at Nextdoor

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Craig Hallum initiated coverage on shares of Nextdoor in a research report on Thursday, January 30th. They issued a "buy" rating and a $4.00 target price on the stock. The Goldman Sachs Group dropped their price objective on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley downgraded shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 target price for the company. in a research note on Tuesday, May 13th.

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.