Point72 Asset Management L.P. Cuts Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

Point72 Asset Management L.P. decreased its stake in Nextdoor Holdings, Inc. (NYSE:KIND) by 33.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,669 shares of the company’s stock after selling 68,294 shares during the period. Point72 Asset Management L.P.’s holdings in Nextdoor were worth $383,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. XTX Topco Ltd purchased a new stake in Nextdoor during the 2nd quarter worth $28,000. Ground Swell Capital LLC acquired a new position in shares of Nextdoor in the second quarter worth about $30,000. Xponance Inc. acquired a new position in shares of Nextdoor in the second quarter worth about $31,000. Westside Investment Management Inc. boosted its holdings in Nextdoor by 294.3% in the first 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 during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Nextdoor during the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 35.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Nextdoor Price Performance

Shares of KIND stock opened at $2.50 on Friday. The business has a 50 day simple moving average of $2.49 and a 200 day simple moving average of $2.43. The firm has a market capitalization of $975.71 million, a price-to-earnings ratio of -6.94 and a beta of 1.08. Nextdoor Holdings, Inc. has a 12-month low of $1.32 and a 12-month high of $2.99.

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

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.