Rhumbline Advisers Increases Stock Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

Rhumbline Advisers lifted its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 29.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,804 shares of the company’s stock after purchasing an additional 56,279 shares during the quarter. Rhumbline Advisers owned about 0.06% of Nextdoor worth $686,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. boosted its holdings in Nextdoor by 294.3% in the 1st quarter. Westside Investment Management Inc. now owns 15,408 shares of the company’s stock valued at $35,000 after purchasing an additional 11,500 shares in the last quarter. nVerses Capital LLC acquired a new position in Nextdoor during the second quarter worth $49,000. Versor Investments LP purchased a new position in Nextdoor in the second quarter worth $75,000. Sivia Capital Partners LLC acquired a new stake in Nextdoor in the fourth quarter valued at $77,000. Finally, SG Americas Securities LLC boosted its position in shares of Nextdoor by 50.6% during the 2nd quarter. SG Americas Securities LLC now owns 34,016 shares of the company’s stock worth $95,000 after purchasing an additional 11,424 shares in the last quarter. 35.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Nextdoor Price Performance

NYSE KIND opened at $2.55 on Wednesday. The business has a 50 day moving average price of $2.54 and a 200 day moving average price of $2.41. The company has a market capitalization of $993.27 million, a P/E ratio of -7.07 and a beta of 1.08. Nextdoor Holdings, Inc. has a 1-year low of $1.32 and a 1-year high of $2.99.

Nextdoor (NYSE:KIND) last announced its quarterly earnings results 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 business had revenue of $63.29 million during the quarter, compared to analysts’ expectations of $58.80 million. On average, research analysts expect that Nextdoor Holdings, Inc. will post -0.23 earnings per share for the current fiscal year.

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.