Titleist Asset Management LLC Sells 230,000 Shares of Nextdoor Holdings, Inc. $KIND

Key Points

• Titleist Asset Management LLC has reduced its stake in Nextdoor Holdings, Inc. by 60.2%, now holding 151,750 shares valued at approximately $232,000.
• Other institutional investors, such as Occudo Quantitative Strategies and Tower Research Capital, have increased their holdings, indicating a mixed sentiment among investors.
• Nextdoor’s stock is currently trading at $2.05 with a target price consensus of $2.21, while analyst ratings range from Buy to Sell.

Titleist Asset Management LLC cut its position in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 60.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,750 shares of the company's stock after selling 230,000 shares during the quarter. Titleist Asset Management LLC's holdings in Nextdoor were worth $232,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Occudo Quantitative Strategies LP raised its stake in Nextdoor by 3.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 138,203 shares of the company's stock valued at $328,000 after acquiring an additional 4,091 shares during the period. Tower Research Capital LLC TRC raised its stake in Nextdoor by 77.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock valued at $25,000 after acquiring an additional 4,514 shares during the period. Invesco Ltd. raised its stake in Nextdoor by 2.2% in the 4th quarter. Invesco Ltd. now owns 243,395 shares of the company's stock valued at $577,000 after acquiring an additional 5,178 shares during the period. Arizona State Retirement System raised its stake in Nextdoor by 13.9% in the 1st quarter. Arizona State Retirement System now owns 55,626 shares of the company's stock valued at $85,000 after acquiring an additional 6,793 shares during the period. Finally, OneDigital Investment Advisors LLC raised its stake in Nextdoor by 4.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 155,290 shares of the company's stock valued at $238,000 after acquiring an additional 7,024 shares during the period. Institutional investors own 35.66% of the company's stock.

Nextdoor Stock Performance

Shares of NYSE KIND traded up $0.02 during mid-day trading on Friday, reaching $2.07. The company had a trading volume of 4,680,006 shares, compared to its average volume of 1,839,480. 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 $791.96 million, a price-to-earnings ratio of -8.63 and a beta of 1.19. The business's 50-day simple moving average is $1.86 and its 200 day simple moving average is $1.71.

Analyst Ratings Changes

KIND has been the subject of several recent research reports. B. Riley initiated coverage on Nextdoor in a research note on Wednesday, June 25th. They issued a "neutral" rating and a $2.00 price target for the company. 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 report on Tuesday, May 13th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.21.

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.