Algert Global LLC Raises Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

Algert Global LLC boosted its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 462,321 shares of the company’s stock after acquiring an additional 16,241 shares during the quarter. Algert Global LLC owned 0.12% of Nextdoor worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its holdings in Nextdoor by 14.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,852 shares of the company’s stock valued at $191,000 after acquiring an additional 8,546 shares during the period. Price T Rowe Associates Inc. MD raised its position in Nextdoor by 28.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,779 shares of the company’s stock valued at $99,000 after purchasing an additional 9,689 shares during the last quarter. XTX Topco Ltd bought a new position in Nextdoor during the 2nd quarter valued at approximately $28,000. Ground Swell Capital LLC bought a new position in Nextdoor during the 2nd quarter valued at approximately $30,000. Finally, Xponance Inc. bought a new position in Nextdoor during the 2nd quarter valued at approximately $31,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upped their price target on Nextdoor from $2.20 to $2.50 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd.

Nextdoor Price Performance

KIND opened at $2.50 on Friday. The business has a 50 day simple moving average of $2.49 and a two-hundred day simple moving average of $2.43. The firm has a market capitalization of $975.71 million, a price-to-earnings ratio of -6.94 and a beta of 1.08. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $2.99.

Nextdoor (NYSE:KIND) last announced its earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Nextdoor had a negative return on equity of 22.69% and a negative net margin of 65.63%. The firm had revenue of $63.29 million during the quarter, compared to analyst estimates of $58.80 million. As a group, sell-side analysts expect that Nextdoor Holdings, Inc. will post -0.23 EPS for the current fiscal year.

About Nextdoor

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.