Nextdoor Holdings, Inc. (NYSE:KIND) Stake Boosted by Westerly Capital Management LLC

Westerly Capital Management LLC lifted its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,100,000 shares of the company's stock after acquiring an additional 1,000,000 shares during the period. Nextdoor makes up about 3.4% of Westerly Capital Management LLC's portfolio, making the stock its 10th largest holding. Westerly Capital Management LLC owned approximately 0.81% of Nextdoor worth $7,347,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in KIND. Titleist Asset Management LLC increased its stake in shares of Nextdoor by 1.1% in the fourth quarter. Titleist Asset Management LLC now owns 381,750 shares of the company's stock valued at $905,000 after buying an additional 4,000 shares during the period. Tower Research Capital LLC TRC grew its position 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 buying an additional 4,514 shares during the last quarter. Invesco Ltd. increased its stake in shares of Nextdoor by 2.2% in the fourth quarter. Invesco Ltd. now owns 243,395 shares of the company's stock valued at $577,000 after buying an additional 5,178 shares during the period. AXQ Capital LP bought a new position in shares of Nextdoor during the fourth quarter worth about $25,000. Finally, SVB Wealth LLC acquired a new position in shares of Nextdoor in the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 35.66% of the company's stock.

Insider Activity

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 transaction, the general counsel now owns 267,445 shares in the company, valued at approximately $460,005.40. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 46.04% of the company's stock.

Nextdoor Stock Performance

Shares of KIND stock traded up $0.03 during trading hours on Monday, hitting $1.53. 574,497 shares of the company were exchanged, compared to its average volume of 1,811,811. Nextdoor Holdings, Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $3.00. The firm has a market cap of $589.11 million, a P/E ratio of -4.77 and a beta of 1.16. The company has a 50 day simple moving average of $1.61 and a two-hundred day simple moving average of $2.19.

Nextdoor (NYSE:KIND - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The firm had revenue of $65.23 million during the quarter, compared to the consensus estimate of $63.12 million. As a group, sell-side analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Craig Hallum began coverage on shares of Nextdoor in a research report on Thursday, January 30th. They issued a "buy" rating and a $4.00 price target on the stock. The Goldman Sachs Group cut their price target on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a research report on Monday, April 14th.

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.