Westerly Capital Management LLC Raises Stock Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

Westerly Capital Management LLC boosted its stake in Nextdoor Holdings, Inc. (NYSE:KIND) by 47.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,100,000 shares of the company’s stock after purchasing an additional 1,000,000 shares during the quarter. Nextdoor comprises 3.4% of Westerly Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Westerly Capital Management LLC’s holdings in Nextdoor were worth $7,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. AXQ Capital LP acquired a new position in shares of Nextdoor in the 4th quarter valued at approximately $25,000. Tower Research Capital LLC TRC increased its stake in Nextdoor by 77.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock valued at $25,000 after acquiring an additional 4,514 shares during the last quarter. SVB Wealth LLC acquired a new position in Nextdoor during the fourth quarter valued at approximately $27,000. US Bancorp DE bought a new stake in Nextdoor during the fourth quarter worth $29,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Nextdoor in the 4th quarter valued at $34,000. Institutional investors own 35.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on KIND. The Goldman Sachs Group lowered their price target on Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a report on Monday, April 14th. Craig Hallum initiated 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 at Nextdoor

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

Nextdoor Stock Performance

Shares of NYSE:KIND opened at $1.51 on Wednesday. Nextdoor Holdings, Inc. has a 52-week low of $1.35 and a 52-week high of $3.00. The company has a market capitalization of $582.16 million, a PE ratio of -4.71 and a beta of 1.16. The company has a fifty day moving average of $1.67 and a 200-day moving average of $2.22.

Nextdoor (NYSE:KIND) last issued its earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting 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 business had revenue of $65.23 million during the quarter, compared to analysts’ expectations of $63.12 million. On average, equities analysts forecast that Nextdoor Holdings, Inc. will post -0.22 EPS 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.