CenterBook Partners LP Invests $1.28 Million in Nextdoor Holdings, Inc. (NYSE:KIND)

CenterBook Partners LP purchased a new stake in Nextdoor Holdings, Inc. (NYSE:KIND) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 540,698 shares of the company’s stock, valued at approximately $1,281,000.

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

Insider Activity

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were 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 directly owns 267,445 shares in the company, valued at approximately $460,005.40. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 46.04% of the stock is currently owned by corporate insiders.

Nextdoor Price Performance

NYSE KIND opened at $1.47 on Friday. The business has a fifty day moving average price of $2.00 and a two-hundred day moving average price of $2.31. The stock has a market capitalization of $565.93 million, a PE ratio of -4.58 and a beta of 1.16. Nextdoor Holdings, Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $3.00.

Nextdoor (NYSE:KIND) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) earnings per share for the quarter, hitting 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 business 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 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. The Goldman Sachs Group reduced their target price on Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Craig Hallum started coverage on shares of Nextdoor in a research report on Thursday, January 30th. They set a “buy” rating and a $4.00 price objective for the company.

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.