Cornerstone Partners Capital Management LLC Acquires Shares of 318,995 Nextdoor Holdings, Inc. (NYSE:KIND)

Cornerstone Partners Capital Management LLC bought a new position in Nextdoor Holdings, Inc. (NYSE:KIND) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 318,995 shares of the company’s stock, valued at approximately $791,000. Nextdoor makes up 1.6% of Cornerstone Partners Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Cornerstone Partners Capital Management LLC owned approximately 0.08% of Nextdoor at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KIND. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Nextdoor by 21.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,698,259 shares of the company’s stock worth $26,321,000 after acquiring an additional 2,058,131 shares during the period. Westside Investment Management Inc. raised its stake in shares of Nextdoor by 294.3% during the 1st quarter. Westside Investment Management Inc. now owns 15,408 shares of the company’s stock worth $35,000 after purchasing an additional 11,500 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in shares of Nextdoor by 21.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,698,259 shares of the company’s stock worth $26,321,000 after buying an additional 2,058,131 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Nextdoor by 9.5% in the 1st quarter. Swiss National Bank now owns 305,600 shares of the company’s stock worth $688,000 after buying an additional 26,400 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Nextdoor by 18.5% during the first quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company’s stock valued at $36,442,000 after buying an additional 2,529,694 shares during the period. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Analyst Ratings Changes

Separately, Morgan Stanley lifted their price objective 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.

Insider Activity

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

Nextdoor Stock Performance

NYSE:KIND traded down $0.03 during trading hours on Tuesday, reaching $2.44. The stock had a trading volume of 61,720 shares, compared to its average volume of 1,544,871. Nextdoor Holdings, Inc. has a 12-month low of $1.32 and a 12-month high of $2.99. The stock has a 50 day simple moving average of $2.45 and a 200 day simple moving average of $2.45. The stock has a market cap of $952.29 million, a P/E ratio of -6.86 and a beta of 1.08.

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