Millennium Management LLC Has $7.11 Million Stock Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

Millennium Management LLC boosted its holdings in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 177.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,999,267 shares of the company's stock after acquiring an additional 1,918,884 shares during the period. 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 large investors have also added to or reduced their stakes in KIND. SG Americas Securities LLC increased its position in Nextdoor by 51.9% during the 4th quarter. SG Americas Securities LLC now owns 95,537 shares of the company's stock worth $226,000 after buying an additional 32,658 shares during the period. R Squared Ltd acquired a new stake in shares of Nextdoor during the fourth quarter worth $45,000. Cornerstone Partners Capital Management LLC lifted its holdings 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 worth $1,390,000 after buying an additional 267,527 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings 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 worth $157,000 after buying an additional 33,023 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Nextdoor by 6.9% during the fourth quarter. Bank of New York Mellon Corp now owns 422,076 shares of the company's stock worth $1,000,000 after buying an additional 27,067 shares in the last quarter. Institutional investors own 35.66% of the company's stock.

Insider Buying and Selling at Nextdoor

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor 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 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 legal filing with the SEC, which is available at this link. Company insiders own 46.04% of the company's stock.

Nextdoor Stock Performance

Shares of NYSE KIND traded down $0.08 during mid-day trading on Friday, reaching $1.53. The company had a trading volume of 2,462,775 shares, compared to its average volume of 1,814,829. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $3.00. The firm has a market cap of $583.45 million, a price-to-earnings ratio of -4.77 and a beta of 1.16. The business's 50-day simple moving average is $1.48 and its 200 day simple moving average is $2.05.

Nextdoor (NYSE:KIND - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $54.18 million for the quarter, compared to analysts' expectations of $53.14 million. On average, sell-side analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley downgraded Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 target price for the company. in a report on Tuesday, May 13th. The Goldman Sachs Group dropped their target price on Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Monday, April 14th.

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.