Nextdoor Holdings, Inc. (NYSE:KIND) Stake Boosted by Millennium Management LLC

Millennium Management LLC boosted its position in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 177.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,999,267 shares of the company's stock after acquiring an additional 1,918,884 shares during the quarter. Millennium Management LLC owned 0.78% of Nextdoor worth $7,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Nextdoor by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company's stock worth $41,735,000 after purchasing an additional 1,041,258 shares in the last quarter. Cannell Capital LLC lifted its stake in shares of Nextdoor by 8.4% during 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Nextdoor by 5.3% during 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 stake in shares of Nextdoor by 98.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company's stock worth $9,402,000 after purchasing an additional 1,965,300 shares in the last quarter. Finally, Westerly Capital Management LLC lifted its stake in shares of Nextdoor by 47.6% during the fourth quarter. Westerly Capital Management LLC now owns 3,100,000 shares of the company's stock worth $7,347,000 after purchasing an additional 1,000,000 shares in the last quarter. Institutional investors and hedge funds own 35.66% of the company's stock.

Insider Buying and Selling

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.72, for a total transaction of $25,800.00. Following the sale, the general counsel now owns 267,445 shares in the company, valued at $460,005.40. This represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 46.04% of the company's stock.

Analyst Upgrades and Downgrades

KIND has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their price objective on Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Morgan Stanley cut 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. Finally, Craig Hallum initiated coverage on Nextdoor in a research note on Thursday, January 30th. They set a "buy" rating and a $4.00 price objective on the stock.

Nextdoor Stock Performance

Shares of NYSE:KIND traded down $0.06 during trading on Friday, hitting $1.55. The company's stock had a trading volume of 919,490 shares, compared to its average volume of 1,811,769. Nextdoor Holdings, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $3.00. The stock's 50-day moving average price is $1.48 and its two-hundred day moving average price is $2.06. The company has a market capitalization of $591.10 million, a PE ratio of -4.83 and a beta of 1.16.

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

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.