Renaissance Technologies LLC Buys 1,965,300 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Renaissance Technologies LLC boosted its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 98.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,967,200 shares of the company’s stock after buying an additional 1,965,300 shares during the period. Renaissance Technologies LLC’s holdings in Nextdoor were worth $9,402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Nextdoor by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock valued at $41,735,000 after purchasing an additional 1,041,258 shares during the last quarter. Cannell Capital LLC boosted its stake in Nextdoor by 8.4% during the fourth quarter. Cannell Capital LLC now owns 6,733,574 shares of the company’s stock valued at $15,959,000 after buying an additional 524,342 shares during the last quarter. Geode Capital Management LLC grew its holdings in Nextdoor by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 4,258,509 shares of the company’s stock valued at $10,095,000 after buying an additional 215,781 shares in the last quarter. State Street Corp increased its stake in Nextdoor by 1.3% in the 3rd quarter. State Street Corp now owns 3,568,959 shares of the company’s stock worth $8,851,000 after acquiring an additional 46,595 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Nextdoor by 115.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,696,339 shares of the company’s stock worth $6,390,000 after acquiring an additional 1,444,343 shares in the last quarter. 35.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KIND has been the subject of a number of recent research reports. Craig Hallum started coverage on shares of Nextdoor in a report on Thursday, January 30th. They issued a “buy” rating and a $4.00 target price for the company. The Goldman Sachs Group reduced their target price on shares of Nextdoor from $2.50 to $1.75 and set a “neutral” rating on the stock in a report on Monday.

Insider Transactions at Nextdoor

In related news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction that occurred on Friday, March 7th. The shares were 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 trade represents a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 46.04% of the company’s stock.

Nextdoor Stock Performance

Shares of Nextdoor stock opened at $1.48 on Thursday. The stock has a market cap of $571.73 million, a price-to-earnings ratio of -4.63 and a beta of 1.16. The stock has a 50 day moving average price of $1.90 and a 200-day moving average price of $2.28. Nextdoor Holdings, Inc. has a one year low of $1.35 and a one year high of $3.00.

Nextdoor (NYSE:KIND) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $65.23 million during the quarter, compared to analyst estimates of $63.12 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. Sell-side analysts predict that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

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.