Rhumbline Advisers Sells 30,412 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Rhumbline Advisers cut its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,663 shares of the company’s stock after selling 30,412 shares during the quarter. Rhumbline Advisers owned about 0.06% of Nextdoor worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KIND. Creative Planning bought a new stake in shares of Nextdoor during the 3rd quarter valued at $28,000. Asset Management One Co. Ltd. purchased a new position in Nextdoor during the 3rd quarter valued at about $79,000. Savvy Advisors Inc. bought a new stake in Nextdoor during the third quarter worth about $61,000. Travelers Companies Inc. purchased a new stake in Nextdoor in the third quarter worth about $593,000. Finally, Intech Investment Management LLC bought a new position in shares of Nextdoor during the third quarter valued at approximately $84,000. 35.66% of the stock is owned by hedge funds and other institutional investors.

Nextdoor Stock Performance

Shares of NYSE KIND opened at $1.72 on Friday. The firm’s 50 day moving average price is $2.46 and its 200-day moving average price is $2.46. Nextdoor Holdings, Inc. has a 52-week low of $1.60 and a 52-week high of $3.00. The company has a market cap of $655.38 million, a PE ratio of -5.36 and a beta of 1.14.

Nextdoor (NYSE:KIND) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The business had revenue of $65.23 million for the quarter, compared to analysts’ expectations of $63.12 million. On average, analysts forecast that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group dropped their price target on Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Craig Hallum began coverage on Nextdoor in a report on Thursday, January 30th. They issued a “buy” rating and a $4.00 target price on the stock.

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.