72,730 Shares in Nextdoor Holdings, Inc. (NYSE:KIND) Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new stake in Nextdoor Holdings, Inc. (NYSE:KIND) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 72,730 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Algert Global LLC lifted its holdings in shares of Nextdoor by 3.6% during the 2nd quarter. Algert Global LLC now owns 462,321 shares of the company’s stock worth $1,285,000 after acquiring an additional 16,241 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Nextdoor in the 2nd quarter valued at about $84,000. The Manufacturers Life Insurance Company boosted its stake in shares of Nextdoor by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,852 shares of the company’s stock valued at $191,000 after purchasing an additional 8,546 shares during the last quarter. Millennium Management LLC boosted its stake in Nextdoor by 59.7% during the 2nd quarter. Millennium Management LLC now owns 1,406,953 shares of the company’s stock worth $3,911,000 after acquiring an additional 526,108 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Nextdoor during the 2nd quarter worth approximately $333,000. 35.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Nextdoor Stock Performance

Shares of Nextdoor stock opened at $2.55 on Tuesday. The firm has a 50-day moving average of $2.45 and a 200-day moving average of $2.44. The stock has a market cap of $995.22 million, a PE ratio of -7.08 and a beta of 1.08. Nextdoor Holdings, Inc. has a 52-week low of $1.32 and a 52-week high of $2.99.

Nextdoor (NYSE:KIND) last issued its earnings results on Wednesday, August 7th. The company reported ($0.06) 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 the consensus estimate of $58.80 million. Equities research analysts predict that Nextdoor Holdings, Inc. will post -0.23 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.