Wexford Capital LP Acquires Shares of 200,000 Nextdoor Holdings, Inc. (NYSE:KIND)

Wexford Capital LP acquired a new stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 200,000 shares of the company's stock, valued at approximately $474,000. Wexford Capital LP owned 0.05% of Nextdoor at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KIND. Charles Schwab Investment Management Inc. grew its position in Nextdoor by 16.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company's stock worth $3,871,000 after buying an additional 227,208 shares during the last quarter. Cornerstone Partners Capital Management LLC grew its position in Nextdoor by 83.9% in 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 during the last quarter. JPMorgan Chase & Co. grew its position in Nextdoor by 72.7% in 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 during the last quarter. MetLife Investment Management LLC grew its position in Nextdoor by 41.3% in 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 during the last quarter. Finally, Cannell Capital LLC grew its position in Nextdoor by 8.4% during the 4th quarter. Cannell Capital LLC now owns 6,733,574 shares of the company's stock worth $15,959,000 after purchasing an additional 524,342 shares in the last quarter. Institutional investors and hedge funds own 35.66% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the 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 $460,005.40. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 46.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KIND shares. Morgan Stanley cut 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. The Goldman Sachs Group decreased their target price on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Craig Hallum began coverage on shares of Nextdoor in a research note on Thursday, January 30th. They set a "buy" rating and a $4.00 target price for the company.

Nextdoor Trading Up 1.0%

Nextdoor stock traded up $0.02 on Friday, reaching $1.48. 1,870,451 shares of the stock were exchanged, compared to its average volume of 1,816,979. The stock has a market cap of $564.32 million, a PE ratio of -4.61 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. The firm has a fifty day moving average price of $1.50 and a two-hundred day moving average price of $2.09.

Nextdoor (NYSE:KIND - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $54.18 million during 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%. Equities analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

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.