Westerly Capital Management LLC Acquires 1,000,000 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Westerly Capital Management LLC increased its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 47.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,100,000 shares of the company's stock after purchasing an additional 1,000,000 shares during the quarter. Nextdoor makes up about 3.4% of Westerly Capital Management LLC's investment portfolio, making the stock its 10th biggest holding. Westerly Capital Management LLC owned 0.81% of Nextdoor worth $7,347,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. AXQ Capital LP acquired a new position in shares of Nextdoor during the 4th quarter worth about $25,000. Tower Research Capital LLC TRC boosted its position in Nextdoor by 77.1% during the fourth 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 acquired a new position in Nextdoor during the fourth quarter valued at approximately $27,000. US Bancorp DE bought a new position in Nextdoor in the fourth quarter valued at approximately $29,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Nextdoor during the 4th quarter worth approximately $34,000. Institutional investors own 35.66% of the company's stock.

Nextdoor Stock Up 1.1 %

KIND opened at $1.51 on Wednesday. The stock has a market cap of $582.16 million, a price-to-earnings ratio of -4.71 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 business has a 50 day moving average of $1.67 and a 200-day moving average of $2.22.

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, hitting analysts' consensus estimates of ($0.03). The firm 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%. As a group, analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Insider Transactions at Nextdoor

In related news, General Counsel Sophia Schwartz sold 15,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.72, for a total transaction of $25,800.00. Following the transaction, the general counsel now directly owns 267,445 shares of the company's stock, valued at approximately $460,005.40. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 46.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KIND. Craig Hallum initiated coverage on Nextdoor in a report on Thursday, January 30th. They issued a "buy" rating and a $4.00 price objective for the company. The Goldman Sachs Group decreased their price objective on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a research report on Monday, April 14th.

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.

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