Squarepoint Ops LLC Increases Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

Squarepoint Ops LLC raised its stake in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 1,153.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 635,994 shares of the company's stock after purchasing an additional 585,273 shares during the quarter. Squarepoint Ops LLC owned 0.17% of Nextdoor worth $1,507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of KIND. AXQ Capital LP bought a new position in shares of Nextdoor in the fourth quarter valued at approximately $25,000. Tower Research Capital LLC TRC grew its holdings in Nextdoor by 77.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock valued at $25,000 after purchasing an additional 4,514 shares during the period. SVB Wealth LLC bought a new position in Nextdoor during the fourth quarter valued at $27,000. US Bancorp DE bought a new position in shares of Nextdoor in the fourth quarter worth $29,000. Finally, Two Sigma Securities LLC bought a new position in shares of Nextdoor in the fourth quarter worth $34,000. 35.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nextdoor

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 46.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KIND. The Goldman Sachs Group cut their price target on Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Monday, April 14th. Morgan Stanley downgraded 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 Performance

KIND stock traded up $0.02 during trading on Tuesday, hitting $1.57. 1,331,118 shares of the company traded hands, compared to its average volume of 1,813,780. The firm has a market capitalization of $598.75 million, a PE ratio of -4.89 and a beta of 1.16. Nextdoor Holdings, Inc. has a 1 year low of $1.32 and a 1 year high of $3.00. The company has a 50-day moving average of $1.48 and a 200-day moving average of $2.04.

Nextdoor (NYSE:KIND - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $53.14 million. Sell-side analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

About Nextdoor

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.