Polymer Capital Management US LLC Takes $72,000 Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Polymer Capital Management US LLC bought a new position in shares of Nextdoor Holdings, Inc. (NYSE:KIND) during the 4th quarter, Holdings Channel reports. The institutional investor bought 30,303 shares of the company’s stock, valued at approximately $72,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership increased its position in Nextdoor by 115.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,696,339 shares of the company’s stock worth $6,390,000 after buying an additional 1,444,343 shares during the period. Vanguard Group Inc. boosted its position in Nextdoor by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock worth $41,735,000 after purchasing an additional 1,041,258 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Nextdoor by 72.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,252,571 shares of the company’s stock worth $2,969,000 after purchasing an additional 527,226 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Nextdoor during the fourth quarter worth $763,000. Finally, Sei Investments Co. boosted its position in Nextdoor by 88.3% during the fourth quarter. Sei Investments Co. now owns 666,982 shares of the company’s stock worth $1,581,000 after purchasing an additional 312,767 shares in the last quarter. Institutional investors and hedge funds own 35.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on KIND shares. Craig Hallum initiated coverage on Nextdoor in a research note on Thursday, January 30th. They set a “buy” rating and a $4.00 price objective on the stock. The Goldman Sachs Group cut their price objective on Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Monday, March 3rd.

Insider Buying and Selling at Nextdoor

In other news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction that occurred 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 transaction, the general counsel now owns 267,445 shares in the company, valued at approximately $460,005.40. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 46.04% of the stock is owned by insiders.

Nextdoor Stock Performance

Shares of NYSE:KIND opened at $1.52 on Thursday. The company has a market cap of $587.18 million, a P/E ratio of -4.75 and a beta of 1.16. Nextdoor Holdings, Inc. has a one year low of $1.35 and a one year high of $3.00. The business’s 50-day simple moving average is $2.02 and its 200 day simple moving average is $2.31.

Nextdoor (NYSE:KIND) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) earnings per share 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 firm had revenue of $65.23 million during the quarter, compared to analyst estimates of $63.12 million. Analysts predict that Nextdoor Holdings, Inc. will post -0.22 earnings per share 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.