ProShare Advisors LLC Decreases Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

ProShare Advisors LLC lessened its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 26.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,507 shares of the company’s stock after selling 17,411 shares during the period. ProShare Advisors LLC’s holdings in Nextdoor were worth $115,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC grew its stake 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 worth $9,402,000 after purchasing an additional 1,965,300 shares in the last quarter. Millennium Management LLC lifted its holdings in Nextdoor by 177.6% during the 4th quarter. Millennium Management LLC now owns 2,999,267 shares of the company’s stock worth $7,108,000 after buying an additional 1,918,884 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Nextdoor by 115.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,696,339 shares of the company’s stock worth $6,390,000 after acquiring an additional 1,444,343 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Nextdoor by 193.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,082,482 shares of the company’s stock valued at $4,935,000 after acquiring an additional 1,371,705 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Nextdoor by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock worth $41,735,000 after acquiring an additional 1,041,258 shares in the last quarter. 35.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley downgraded Nextdoor from an “equal weight” rating to an “underweight” rating and set a $1.10 price target for the company. in a report on Tuesday, May 13th. The Goldman Sachs Group reduced their price objective on shares of Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a research report on Monday, April 14th.

Nextdoor Stock Performance

Shares of KIND stock opened at $1.55 on Tuesday. The stock’s 50-day moving average is $1.48 and its two-hundred day moving average is $2.04. Nextdoor Holdings, Inc. has a 1 year low of $1.32 and a 1 year high of $3.00. The firm has a market cap of $591.10 million, a price-to-earnings ratio of -4.83 and a beta of 1.16.

Nextdoor (NYSE:KIND) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $54.18 million for the quarter, compared to the consensus estimate of $53.14 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. As a group, research analysts predict that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of the company’s stock in a transaction that occurred 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 sale, the general counsel now directly owns 267,445 shares of the company’s stock, valued at $460,005.40. This represents a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 46.04% of the stock is currently owned by insiders.

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.