Algert Global LLC Has $1.62 Million Stock Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Algert Global LLC grew its position in Nextdoor Holdings, Inc. (NYSE:KIND) by 41.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 654,319 shares of the company’s stock after purchasing an additional 191,998 shares during the period. Algert Global LLC owned about 0.17% of Nextdoor worth $1,623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Nextdoor by 18.5% during the 1st quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company’s stock valued at $36,442,000 after purchasing an additional 2,529,694 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Nextdoor by 12.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,814,300 shares of the company’s stock valued at $5,044,000 after acquiring an additional 200,500 shares in the last quarter. Marshall Wace LLP acquired a new stake in Nextdoor in the 2nd quarter worth approximately $4,327,000. Millennium Management LLC boosted its position in Nextdoor by 59.7% during the second quarter. Millennium Management LLC now owns 1,406,953 shares of the company’s stock worth $3,911,000 after purchasing an additional 526,108 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Nextdoor by 5.7% during 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. 35.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nextdoor

In other news, General Counsel Sophia Schwartz sold 17,529 shares of Nextdoor stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total value of $45,224.82. Following the completion of the transaction, the general counsel now owns 304,666 shares in the company, valued at approximately $786,038.28. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 46.04% of the stock is owned by insiders.

Nextdoor Price Performance

NYSE KIND opened at $2.42 on Thursday. The company’s fifty day moving average is $2.48 and its two-hundred day moving average is $2.52. Nextdoor Holdings, Inc. has a 52-week low of $1.32 and a 52-week high of $2.99. The firm has a market capitalization of $922.87 million, a price-to-earnings ratio of -7.56 and a beta of 1.08.

Nextdoor (NYSE:KIND) last issued its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The firm had revenue of $65.61 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same period last year, the business earned ($0.10) earnings per share. As a group, sell-side analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their price target on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

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.