200,000 Shares in Nextdoor Holdings, Inc. (NYSE:KIND) Purchased by Wexford Capital LP

Wexford Capital LP acquired a new position in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 200,000 shares of the company's stock, valued at approximately $474,000. Wexford Capital LP owned about 0.05% of Nextdoor as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Nextdoor by 16.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company's stock valued at $3,871,000 after purchasing an additional 227,208 shares in the last quarter. Cornerstone Partners Capital Management LLC boosted its holdings in 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. JPMorgan Chase & Co. boosted its holdings in Nextdoor by 72.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,252,571 shares of the company's stock worth $2,969,000 after buying an additional 527,226 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Nextdoor by 41.3% during the fourth quarter. MetLife Investment Management LLC now owns 105,706 shares of the company's stock worth $251,000 after buying an additional 30,908 shares in the last quarter. Finally, Cannell Capital LLC boosted its holdings in Nextdoor by 8.4% during the fourth quarter. Cannell Capital LLC now owns 6,733,574 shares of the company's stock worth $15,959,000 after buying an additional 524,342 shares in the last quarter. Hedge funds and other institutional investors own 35.66% of the company's stock.

Insider Activity

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.72, for a total value of $25,800.00. Following the completion of the sale, the general counsel now directly owns 267,445 shares in the company, valued at $460,005.40. This represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 46.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. The Goldman Sachs Group lowered their price target on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a report on Monday, April 14th. Craig Hallum assumed coverage on shares of Nextdoor in a report on Thursday, January 30th. They set a "buy" rating and a $4.00 price target on the stock. Finally, Morgan Stanley downgraded shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price target on the stock. in a report on Tuesday, May 13th.

Nextdoor Trading Up 1.7%

NYSE:KIND traded up $0.03 during trading hours on Thursday, reaching $1.47. 1,967,836 shares of the company were exchanged, compared to its average volume of 1,816,639. The stock's 50-day moving average is $1.51 and its 200-day moving average is $2.11. The firm has a market cap of $560.49 million, a PE ratio of -4.58 and a beta of 1.16. Nextdoor Holdings, Inc. has a twelve month low of $1.32 and a twelve month high of $3.00.

Nextdoor (NYSE:KIND - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The company had revenue of $54.18 million during the quarter, compared to analysts' expectations of $53.14 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. As a group, research analysts anticipate 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.