Ergoteles LLC Sells 113,485 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Ergoteles LLC cut its holdings in Nextdoor Holdings, Inc. (NYSE:KIND – Get Rating) by 73.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,600 shares of the company’s stock after selling 113,485 shares during the period. Ergoteles LLC’s holdings in Nextdoor were worth $116,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in KIND. UBS Group AG boosted its stake in shares of Nextdoor by 467.5% during the 1st quarter. UBS Group AG now owns 3,134,239 shares of the company’s stock worth $18,774,000 after purchasing an additional 2,581,924 shares during the period. Goldman Sachs Group Inc. boosted its position in Nextdoor by 107.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,502,191 shares of the company’s stock valued at $14,988,000 after buying an additional 1,296,803 shares during the period. Deutsche Bank AG purchased a new stake in Nextdoor in the 2nd quarter valued at about $2,589,000. Greenhaven Road Investment Management L.P. purchased a new stake in Nextdoor in the 2nd quarter valued at about $2,152,000. Finally, Renaissance Technologies LLC purchased a new stake in Nextdoor in the 2nd quarter valued at about $1,989,000. 28.33% of the stock is currently owned by institutional investors.

Nextdoor Stock Performance

Shares of KIND opened at $1.99 on Thursday. The company has a 50 day moving average price of $2.18 and a 200-day moving average price of $2.45. Nextdoor Holdings, Inc. has a fifty-two week low of $1.82 and a fifty-two week high of $6.74. The stock has a market capitalization of $735.42 million, a PE ratio of -5.38 and a beta of 0.43.

Nextdoor (NYSE:KIND – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The firm had revenue of $53.27 million during the quarter, compared to analysts’ expectations of $50.83 million. Nextdoor had a negative net margin of 64.82% and a negative return on equity of 20.71%. The company’s revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) EPS. Equities research analysts forecast that Nextdoor Holdings, Inc. will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

KIND has been the subject of several research reports. Citigroup lowered their price objective on shares of Nextdoor from $2.85 to $2.55 and set a “neutral” rating for the company in a research report on Thursday, March 2nd. Evercore ISI lowered their price objective on shares of Nextdoor to $5.00 in a research report on Tuesday, November 15th. Morgan Stanley lowered their price objective on shares of Nextdoor from $2.50 to $2.30 and set an “equal weight” rating for the company in a research report on Wednesday, November 9th. Finally, The Goldman Sachs Group lowered their price target on shares of Nextdoor from $3.50 to $2.75 and set a “neutral” rating for the company in a research report on Wednesday, November 9th.

Nextdoor Company Profile

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Nextdoor Holdings, Inc operates as the neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. It enables small and mid-sized businesses, large brands, public agencies, and nonprofits to receive information, give and get help, and build connections.