Nextdoor Holdings, Inc. (NYSE:KIND) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 98.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,967,200 shares of the company's stock after purchasing an additional 1,965,300 shares during the quarter. Renaissance Technologies LLC owned 1.04% of Nextdoor worth $9,402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AXQ Capital LP acquired a new position in shares of Nextdoor in the 4th quarter worth approximately $25,000. SVB Wealth LLC acquired a new position in Nextdoor during the fourth quarter worth $27,000. US Bancorp DE purchased a new position in shares of Nextdoor during the fourth quarter worth $29,000. Cibc World Markets Corp acquired a new stake in shares of Nextdoor in the fourth quarter valued at $38,000. Finally, Virtu Financial LLC acquired a new stake in shares of Nextdoor in the fourth quarter valued at $41,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KIND. The Goldman Sachs Group lowered their target price on Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a report 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.

Insiders Place Their Bets

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction dated 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 sale, the general counsel now directly owns 267,445 shares of the company's stock, valued at $460,005.40. The trade was a 5.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 46.04% of the stock is currently owned by company insiders.

Nextdoor Price Performance

Shares of NYSE KIND traded down $0.02 during mid-day trading on Tuesday, hitting $1.42. The company had a trading volume of 1,086,278 shares, compared to its average volume of 1,777,172. The company has a market capitalization of $546.62 million, a PE ratio of -4.42 and a beta of 1.16. The business's 50-day simple moving average is $1.80 and its 200 day simple moving average is $2.25. Nextdoor Holdings, Inc. has a 1-year low of $1.35 and a 1-year high of $3.00.

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