Bank of America Corp DE Buys 56,872 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Bank of America Corp DE lifted its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 55.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,292 shares of the company’s stock after purchasing an additional 56,872 shares during the period. Bank of America Corp DE’s holdings in Nextdoor were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Titleist Asset Management LLC increased its position in shares of Nextdoor by 1.1% in the fourth quarter. Titleist Asset Management LLC now owns 381,750 shares of the company’s stock worth $905,000 after purchasing an additional 4,000 shares during the period. Tower Research Capital LLC TRC raised its position in Nextdoor by 77.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock valued at $25,000 after purchasing an additional 4,514 shares during the last quarter. Invesco Ltd. raised its position in Nextdoor by 2.2% in the fourth quarter. Invesco Ltd. now owns 243,395 shares of the company’s stock valued at $577,000 after purchasing an additional 5,178 shares during the last quarter. AXQ Capital LP bought a new stake in shares of Nextdoor in the fourth quarter worth $25,000. Finally, SVB Wealth LLC bought a new stake in shares of Nextdoor in the fourth quarter worth $27,000. Institutional investors own 35.66% of the company’s stock.

Nextdoor Price Performance

KIND opened at $1.55 on Friday. The firm has a market capitalization of $591.10 million, a PE ratio of -4.83 and a beta of 1.16. Nextdoor Holdings, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $3.00. The company’s 50-day moving average is $1.49 and its 200 day moving average is $2.00.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KIND. Morgan Stanley cut shares of Nextdoor from an “equal weight” rating to an “underweight” rating and set a $1.10 price objective on the stock. in a research note on Tuesday, May 13th. The Goldman Sachs Group cut their price objective on shares of Nextdoor from $2.50 to $1.75 and set a “neutral” rating on the stock in a research report on Monday, April 14th.

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.