BNP Paribas Financial Markets Takes Position in Nextdoor Holdings, Inc. (NYSE:KIND)

BNP Paribas Financial Markets acquired a new stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 35,582 shares of the company’s stock, valued at approximately $84,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Nextdoor by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock valued at $41,735,000 after buying an additional 1,041,258 shares during the last quarter. Cannell Capital LLC raised its position in shares of Nextdoor by 8.4% during the fourth quarter. Cannell Capital LLC now owns 6,733,574 shares of the company’s stock valued at $15,959,000 after buying an additional 524,342 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Nextdoor by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 4,258,509 shares of the company’s stock valued at $10,095,000 after buying an additional 215,781 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of 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 last quarter. Finally, Westerly Capital Management LLC raised its position in shares of Nextdoor by 47.6% during the fourth quarter. Westerly Capital Management LLC now owns 3,100,000 shares of the company’s stock valued at $7,347,000 after buying an additional 1,000,000 shares during the last quarter. Institutional investors own 35.66% of the company’s stock.

Wall Street Analysts Forecast Growth

KIND has been the subject of a number of recent research reports. The Goldman Sachs Group cut their target price on shares of Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a report on Monday, April 14th. Morgan Stanley lowered shares of Nextdoor from an “equal weight” rating to an “underweight” rating and set a $1.10 target price for the company. in a report on Tuesday, May 13th.

Insiders Place Their Bets

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the business’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 sale, the general counsel now directly owns 267,445 shares of the company’s stock, valued at approximately $460,005.40. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 46.04% of the stock is owned by insiders.

Nextdoor Stock Performance

KIND stock opened at $1.53 on Monday. The firm has a fifty day moving average price of $1.48 and a 200 day moving average price of $2.05. Nextdoor Holdings, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $3.00. The firm has a market cap of $583.45 million, a PE ratio of -4.77 and a beta of 1.16.

Nextdoor (NYSE:KIND) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $54.18 million during the quarter, compared to analyst estimates of $53.14 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. On average, equities analysts predict that Nextdoor Holdings, Inc. will post -0.22 EPS for the current 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.