574,280 Shares in Nextdoor Holdings, Inc. (NYSE:KIND) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new position in shares of Nextdoor Holdings, Inc. (NYSE:KIND) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 574,280 shares of the company’s stock, valued at approximately $1,361,000. Cubist Systematic Strategies LLC owned approximately 0.15% of Nextdoor at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KIND. Barclays PLC grew its position in Nextdoor by 326.2% during 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. lifted its stake in Nextdoor by 62.2% during the third quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company’s stock worth $1,799,000 after purchasing an additional 278,185 shares during the last quarter. SG Americas Securities LLC lifted its stake in Nextdoor by 51.9% during the fourth quarter. SG Americas Securities LLC now owns 95,537 shares of the company’s stock worth $226,000 after purchasing an additional 32,658 shares during the last quarter. R Squared Ltd bought a new stake in Nextdoor during the fourth quarter worth $45,000. Finally, Cornerstone Partners Capital Management LLC lifted its stake in Nextdoor by 83.9% during the fourth quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company’s stock worth $1,390,000 after purchasing an additional 267,527 shares during the last quarter. Institutional investors and hedge funds own 35.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on KIND shares. The Goldman Sachs Group cut their target price on Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley cut Nextdoor from an “equal weight” rating to an “underweight” rating and set a $1.10 target price for the company. in a research note on Tuesday. Finally, Craig Hallum started coverage on Nextdoor in a research note on Thursday, January 30th. They set a “buy” rating and a $4.00 target price for the company.

Insider Activity

In related news, General Counsel Sophia Schwartz sold 15,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.72, for a total value of $25,800.00. Following the completion of the sale, the general counsel now directly owns 267,445 shares in the company, valued at $460,005.40. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 46.04% of the stock is owned by corporate insiders.

Nextdoor Stock Performance

Shares of KIND opened at $1.40 on Wednesday. Nextdoor Holdings, Inc. has a 52 week low of $1.32 and a 52 week high of $3.00. The stock has a market capitalization of $538.89 million, a price-to-earnings ratio of -4.36 and a beta of 1.16. The stock has a fifty day moving average of $1.53 and a 200-day moving average of $2.15.

Nextdoor (NYSE:KIND) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The company had revenue of $54.18 million during the quarter, compared to analysts’ expectations of $53.14 million. As a group, equities analysts forecast that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

About Nextdoor

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.