Algert Global LLC Buys 380,306 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Algert Global LLC boosted its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 58.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,034,625 shares of the company's stock after purchasing an additional 380,306 shares during the period. Algert Global LLC owned about 0.27% of Nextdoor worth $2,452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Titleist Asset Management LLC raised its position in Nextdoor by 1.1% in the fourth quarter. Titleist Asset Management LLC now owns 381,750 shares of the company's stock worth $905,000 after acquiring an additional 4,000 shares during the period. Tower Research Capital LLC TRC raised its holdings 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 during the period. Invesco Ltd. lifted its position in Nextdoor by 2.2% during the fourth quarter. Invesco Ltd. now owns 243,395 shares of the company's stock valued at $577,000 after purchasing an additional 5,178 shares in the last quarter. AXQ Capital LP bought a new stake in Nextdoor during the fourth quarter valued at about $25,000. Finally, SVB Wealth LLC purchased a new stake in Nextdoor in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 35.66% of the company's stock.

Analysts Set New Price Targets

KIND has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price objective on 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 research note on Thursday, January 30th. They issued a "buy" rating and a $4.00 price objective for the company.

Insider Activity

In related 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 transaction, the general counsel now owns 267,445 shares of the company's stock, valued at approximately $460,005.40. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 46.04% of the company's stock.

Nextdoor Stock Down 3.2 %

KIND stock traded down $0.05 during midday trading on Friday, hitting $1.37. The company's stock had a trading volume of 1,620,092 shares, compared to its average volume of 1,804,728. The firm has a market capitalization of $527.30 million, a price-to-earnings ratio of -4.27 and a beta of 1.16. Nextdoor Holdings, Inc. has a 12 month low of $1.35 and a 12 month high of $3.00. The company has a 50 day moving average of $1.55 and a two-hundred day moving average of $2.16.

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 net margin of 53.23% and a negative return on equity of 19.42%. The company had revenue of $54.18 million for the quarter, compared to the consensus estimate of $53.14 million. On average, analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

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.