Cornerstone Partners Capital Management LLC Invests $791,000 in Nextdoor Holdings, Inc. (NYSE:KIND)

Cornerstone Partners Capital Management LLC acquired a new stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 318,995 shares of the company’s stock, valued at approximately $791,000. Nextdoor makes up approximately 1.6% of Cornerstone Partners Capital Management LLC’s holdings, making the stock its 8th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Creative Planning purchased a new position in shares of Nextdoor during the 3rd quarter valued at about $28,000. SG Americas Securities LLC grew its position in Nextdoor by 84.9% during the third quarter. SG Americas Securities LLC now owns 62,879 shares of the company’s stock valued at $156,000 after acquiring an additional 28,863 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Nextdoor during the second quarter worth approximately $202,000. Algert Global LLC lifted its holdings in shares of Nextdoor by 3.6% in the 2nd quarter. Algert Global LLC now owns 462,321 shares of the company’s stock worth $1,285,000 after acquiring an additional 16,241 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Nextdoor in the 2nd quarter worth approximately $84,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

Nextdoor Stock Performance

KIND stock traded down $0.03 during trading on Tuesday, hitting $2.44. 61,720 shares of the company traded hands, compared to its average volume of 1,544,871. The company has a 50-day moving average of $2.45 and a 200-day moving average of $2.45. Nextdoor Holdings, Inc. has a 1 year low of $1.32 and a 1 year high of $2.99. The firm has a market capitalization of $952.29 million, a PE ratio of -6.86 and a beta of 1.08.

Nextdoor (NYSE:KIND) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Nextdoor had a negative return on equity of 22.69% and a negative net margin of 65.63%. The firm had revenue of $63.29 million during the quarter, compared to analyst estimates of $58.80 million. Sell-side analysts expect that Nextdoor Holdings, Inc. will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Sophia Schwartz sold 17,529 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total transaction of $45,224.82. Following the completion of the transaction, the general counsel now directly owns 304,666 shares of the company’s stock, valued at approximately $786,038.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 46.04% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley lifted their target price on shares of Nextdoor from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd.

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.