Two Sigma Investments LP Raises Stock Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

Two Sigma Investments LP grew its holdings in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 88.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,139,984 shares of the company's stock after purchasing an additional 535,845 shares during the period. Two Sigma Investments LP owned approximately 0.30% of Nextdoor worth $2,702,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AXQ Capital LP bought a new stake in shares of Nextdoor during the fourth quarter valued at about $25,000. Tower Research Capital LLC TRC lifted 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 worth $25,000 after purchasing an additional 4,514 shares in the last quarter. SVB Wealth LLC bought a new position in Nextdoor in the 4th quarter valued at $27,000. US Bancorp DE purchased a new position in shares of Nextdoor during the 4th quarter valued at $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 currently owned by hedge funds and other institutional investors.

Nextdoor Stock Up 2.2%

Shares of NYSE KIND traded up $0.04 during midday trading on Wednesday, reaching $1.61. The company had a trading volume of 351,441 shares, compared to its average volume of 1,807,996. The stock has a market cap of $614.05 million, a PE ratio of -5.02 and a beta of 1.16. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $3.00. The firm's fifty day moving average price is $1.48 and its 200-day moving average price is $2.04.

Nextdoor (NYSE:KIND - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) earnings per share 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 firm had revenue of $54.18 million during the quarter, compared to analyst estimates of $53.14 million. As a group, equities research analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.72, for a total value of $25,800.00. Following the sale, 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. Insiders own 46.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. The Goldman Sachs Group reduced their target price on Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company 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 for the company. in a report on Tuesday, May 13th.

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.