Cornerstone Partners Capital Management LLC Has $1.39 Million Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

Cornerstone Partners Capital Management LLC lifted its holdings in Nextdoor Holdings, Inc. (NYSE:KIND) by 83.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 586,522 shares of the company’s stock after buying an additional 267,527 shares during the period. Nextdoor comprises approximately 3.0% of Cornerstone Partners Capital Management LLC’s holdings, making the stock its 7th largest position. Cornerstone Partners Capital Management LLC’s holdings in Nextdoor were worth $1,390,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Nextdoor by 62.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company’s stock worth $1,799,000 after acquiring an additional 278,185 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Nextdoor by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,406,161 shares of the company’s stock worth $3,487,000 after acquiring an additional 75,229 shares in the last quarter. Travelers Companies Inc. bought a new position in shares of Nextdoor in the 3rd quarter worth about $593,000. Barclays PLC raised its position in shares of Nextdoor by 326.2% in the 3rd quarter. Barclays PLC now owns 267,490 shares of the company’s stock worth $663,000 after acquiring an additional 204,729 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Nextdoor by 261.8% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 69,474 shares of the company’s stock worth $172,000 after acquiring an additional 50,273 shares in the last quarter. 35.66% of the stock is owned by institutional investors.

Nextdoor Stock Up 6.5 %

Shares of Nextdoor stock opened at $2.72 on Wednesday. Nextdoor Holdings, Inc. has a one year low of $1.57 and a one year high of $2.99. The business has a 50-day simple moving average of $2.47 and a 200 day simple moving average of $2.49.

Nextdoor (NYSE:KIND) last issued its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $65.61 million during the quarter, compared to analyst estimates of $62.10 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. During the same period in the previous year, the company posted ($0.10) EPS. Research analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on KIND. Craig Hallum began coverage on Nextdoor in a research report on Thursday, January 30th. They issued a “buy” rating and a $4.00 price objective for the company. The Goldman Sachs Group boosted their target price on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other Nextdoor news, General Counsel Sophia Schwartz sold 16,834 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.45, for a total transaction of $41,243.30. Following the completion of the sale, the general counsel now directly owns 215,536 shares of the company’s stock, valued at approximately $528,063.20. The trade was a 7.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 20,222 shares of company stock valued at $49,679. Corporate insiders own 46.04% of the company’s stock.

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.