Straightline Group LLC Makes New $49,000 Investment in Nextdoor Holdings, Inc. (NYSE:KIND)

Straightline Group LLC acquired a new stake in Nextdoor Holdings, Inc. (NYSE:KIND) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,736 shares of the company’s stock, valued at approximately $49,000.

Several other large investors also recently modified their holdings of KIND. Intech Investment Management LLC acquired a new position in Nextdoor in the 3rd quarter valued at about $84,000. Charles Schwab Investment Management Inc. grew its position in shares of Nextdoor by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,406,161 shares of the company’s stock valued at $3,487,000 after purchasing an additional 75,229 shares during the last quarter. FMR LLC increased its stake in shares of Nextdoor by 1,609.1% during the third quarter. FMR LLC now owns 62,690 shares of the company’s stock worth $155,000 after purchasing an additional 59,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Nextdoor by 6.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 337,561 shares of the company’s stock worth $837,000 after purchasing an additional 21,405 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in Nextdoor by 142.9% in the 3rd quarter. Verition Fund Management LLC now owns 52,900 shares of the company’s stock valued at $131,000 after purchasing an additional 31,121 shares during the period. 35.66% of the stock is owned by institutional investors.

Insider Buying and Selling 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 stock was sold at an average price of $1.72, for a total value of $25,800.00. Following the sale, the general counsel now directly owns 267,445 shares of the company’s stock, valued at $460,005.40. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 46.04% of the company’s stock.

Nextdoor Stock Performance

NYSE:KIND opened at $1.45 on Tuesday. The company has a market cap of $558.21 million, a price-to-earnings ratio of -4.52 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. The stock has a fifty day moving average price of $2.11 and a 200-day moving average price of $2.34.

Nextdoor (NYSE:KIND) last posted 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). The business 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%. Research analysts predict that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.