Potrero Capital Research LLC Purchases 660,759 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Potrero Capital Research LLC raised its position in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,557,997 shares of the company's stock after acquiring an additional 660,759 shares during the quarter. Nextdoor makes up 2.8% of Potrero Capital Research LLC's portfolio, making the stock its 13th biggest holding. Potrero Capital Research LLC owned 0.93% of Nextdoor worth $8,432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its position in Nextdoor by 326.2% in the third quarter. Barclays PLC now owns 267,490 shares of the company's stock worth $663,000 after buying an additional 204,729 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Nextdoor by 62.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company's stock valued at $1,799,000 after acquiring an additional 278,185 shares during the period. SG Americas Securities LLC increased its holdings in Nextdoor by 51.9% in the 4th quarter. SG Americas Securities LLC now owns 95,537 shares of the company's stock worth $226,000 after acquiring an additional 32,658 shares in the last quarter. R Squared Ltd bought a new stake in Nextdoor during the 4th quarter worth approximately $45,000. Finally, Cornerstone Partners Capital Management LLC raised its stake in Nextdoor by 83.9% during the 4th quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company's stock worth $1,390,000 after acquiring an additional 267,527 shares during the period. 35.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KIND. The Goldman Sachs Group reduced their price objective 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 initiated coverage on Nextdoor in a research note on Thursday, January 30th. They issued a "buy" rating and a $4.00 price target for the company. Finally, Morgan Stanley downgraded 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.

Insider Transactions at Nextdoor

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.72, for a total transaction of $25,800.00. Following the completion of the transaction, the general counsel now owns 267,445 shares in the company, valued at $460,005.40. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 46.04% of the company's stock.

Nextdoor Stock Performance

KIND traded up $0.02 during trading on Tuesday, reaching $1.47. 552,425 shares of the company traded hands, compared to its average volume of 1,815,961. The company has a market cap of $560.49 million, a P/E ratio of -4.58 and a beta of 1.16. Nextdoor Holdings, Inc. has a 12-month low of $1.32 and a 12-month high of $3.00. The firm has a fifty day simple moving average of $1.51 and a 200 day simple moving average of $2.12.

Nextdoor (NYSE:KIND - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share 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.