Manatuck Hill Partners LLC Purchases New Shares in Nextdoor Holdings, Inc. (NYSE:KIND)

Manatuck Hill Partners LLC bought a new stake in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 400,000 shares of the company's stock, valued at approximately $948,000. Manatuck Hill Partners LLC owned about 0.10% of Nextdoor at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. AXQ Capital LP acquired a new position in Nextdoor in the fourth quarter valued at approximately $25,000. Tower Research Capital LLC TRC lifted its stake in shares of Nextdoor by 77.1% in the 4th 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 last quarter. SVB Wealth LLC purchased a new position in shares of Nextdoor during the 4th quarter worth $27,000. US Bancorp DE acquired a new stake in shares of Nextdoor during the 4th quarter worth about $29,000. Finally, Two Sigma Securities LLC purchased a new stake in Nextdoor in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 35.66% of the company's stock.

Nextdoor Stock Down 0.3 %

NYSE KIND traded down $0.01 during trading on Wednesday, hitting $1.50. The stock had a trading volume of 714,238 shares, compared to its average volume of 1,814,256. The company has a market capitalization of $577.52 million, a PE ratio of -4.67 and a beta of 1.16. Nextdoor Holdings, Inc. has a twelve month low of $1.35 and a twelve month high of $3.00. The firm has a 50 day moving average price of $1.57 and a 200 day moving average price of $2.18.

Nextdoor (NYSE:KIND - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $65.23 million during the quarter, compared to analysts' expectations of $63.12 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. On average, sell-side analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KIND has been the subject of several research analyst reports. The Goldman Sachs Group lowered 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. Craig Hallum assumed coverage on shares of Nextdoor in a report on Thursday, January 30th. They issued a "buy" rating and a $4.00 target price for the company.

Insider Activity

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.72, for a total value of $25,800.00. Following the transaction, the general counsel now owns 267,445 shares in the company, valued at approximately $460,005.40. This represents 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. Company insiders own 46.04% of the company's stock.

Nextdoor 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.