Insider Selling: Nextdoor Holdings, Inc. (NYSE:KIND) General Counsel Sells 15,000 Shares of Stock

Nextdoor Holdings, Inc. (NYSE:KIND) General Counsel Sophia Schwartz sold 15,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was 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 directly owns 267,445 shares of the company’s stock, valued at approximately $460,005.40. This represents a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Nextdoor Price Performance

NYSE:KIND opened at $1.72 on Thursday. The firm has a market capitalization of $662.51 million, a P/E ratio of -5.36 and a beta of 1.14. Nextdoor Holdings, Inc. has a 1-year low of $1.60 and a 1-year high of $3.00. The company’s fifty day moving average price is $2.41 and its 200-day moving average price is $2.44.

Nextdoor (NYSE:KIND) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $65.23 million for the quarter, compared to analyst estimates of $63.12 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. Equities analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Trading of Nextdoor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KIND. Renaissance Technologies LLC grew its position in Nextdoor by 98.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company’s stock valued at $9,402,000 after buying an additional 1,965,300 shares during the period. Millennium Management LLC grew its position in Nextdoor by 177.6% during the fourth quarter. Millennium Management LLC now owns 2,999,267 shares of the company’s stock valued at $7,108,000 after buying an additional 1,918,884 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Nextdoor by 115.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,696,339 shares of the company’s stock valued at $6,390,000 after buying an additional 1,444,343 shares during the period. D. E. Shaw & Co. Inc. grew its position in Nextdoor by 193.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,082,482 shares of the company’s stock valued at $4,935,000 after buying an additional 1,371,705 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Nextdoor by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock valued at $41,735,000 after purchasing an additional 1,041,258 shares during the period. Institutional investors and hedge funds own 35.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Craig Hallum assumed coverage on shares of Nextdoor in a research note on Thursday, January 30th. They issued a “buy” rating and a $4.00 price objective on the stock. The Goldman Sachs Group cut their price objective on shares of Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, March 3rd.

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.