Cibc World Markets Corp Takes Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Cibc World Markets Corp bought a new position in Nextdoor Holdings, Inc. (NYSE:KIND) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 16,119 shares of the company’s stock, valued at approximately $38,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SVB Wealth LLC bought a new position in shares of Nextdoor in the fourth quarter worth about $27,000. US Bancorp DE purchased a new stake in Nextdoor in the 4th quarter worth approximately $29,000. R Squared Ltd bought a new stake in Nextdoor during the 4th quarter worth approximately $45,000. Intech Investment Management LLC purchased a new position in Nextdoor during the third quarter valued at approximately $84,000. Finally, Versor Investments LP bought a new position in shares of Nextdoor in the fourth quarter worth approximately $121,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Sophia Schwartz sold 15,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.72, for a total value of $25,800.00. Following the sale, the general counsel now owns 267,445 shares in the company, valued at approximately $460,005.40. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 46.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Nextdoor Price Performance

Shares of KIND opened at $1.56 on Friday. The firm has a market cap of $600.70 million, a P/E ratio of -4.86 and a beta of 1.14. Nextdoor Holdings, Inc. has a 1 year low of $1.55 and a 1 year high of $3.00. The company has a 50 day simple moving average of $2.22 and a two-hundred day simple moving average of $2.38.

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