Two Sigma Advisers LP Acquires 198,800 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Two Sigma Advisers LP boosted its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 88.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,800 shares of the company's stock after acquiring an additional 198,800 shares during the quarter. Two Sigma Advisers LP owned 0.11% of Nextdoor worth $1,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Nextdoor by 77.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock worth $25,000 after acquiring an additional 4,514 shares in the last quarter. AXQ Capital LP bought a new stake in Nextdoor during the fourth quarter worth $25,000. SVB Wealth LLC bought a new stake in Nextdoor during the fourth quarter worth $27,000. US Bancorp DE bought a new stake in Nextdoor during the fourth quarter worth $29,000. Finally, Two Sigma Securities LLC bought a new stake in Nextdoor during the fourth quarter worth $34,000. 35.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in 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 report on Monday, April 14th. Morgan Stanley lowered shares of 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.

Nextdoor Stock Up 2.2%

Shares of KIND traded up $0.04 during trading hours on Thursday, hitting $1.62. The company had a trading volume of 1,910,818 shares, compared to its average volume of 1,811,210. Nextdoor Holdings, Inc. has a 12 month low of $1.32 and a 12 month high of $3.00. The firm has a market cap of $617.88 million, a price-to-earnings ratio of -5.05 and a beta of 1.16. The business has a fifty day moving average of $1.48 and a 200-day moving average of $2.03.

Nextdoor (NYSE:KIND - Get Free Report) last released 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. The business had revenue of $54.18 million for 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 expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity at Nextdoor

In related news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $1.72, for a total transaction of $25,800.00. Following the sale, the general counsel now directly owns 267,445 shares of the company's stock, valued at approximately $460,005.40. The trade was a 5.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 46.04% of the stock is currently owned by insiders.

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.