California State Teachers Retirement System Reduces Stock Position in Nextdoor Holdings, Inc. (NYSE:KIND)

California State Teachers Retirement System lessened its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 61.4% during the 4th quarter, Holdings Channel reports. The firm owned 156,165 shares of the company’s stock after selling 248,660 shares during the quarter. California State Teachers Retirement System’s holdings in Nextdoor were worth $370,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. AXQ Capital LP purchased a new stake in Nextdoor during the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC grew its stake in Nextdoor by 77.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock valued at $25,000 after purchasing an additional 4,514 shares during the last quarter. SVB Wealth LLC purchased a new stake in Nextdoor during the 4th quarter valued at about $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Nextdoor during the 4th quarter valued at about $27,000. Finally, US Bancorp DE purchased a new stake in Nextdoor during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Wall Street Analysts Forecast Growth

KIND has been the topic of several research analyst reports. Morgan Stanley downgraded Nextdoor from an “equal weight” rating to an “underweight” rating and set a $1.10 price target on the stock. in a research note on Tuesday, May 13th. The Goldman Sachs Group decreased their price objective on Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a report on Monday, April 14th.

Nextdoor Stock Down 3.4%

Shares of KIND stock opened at $1.59 on Thursday. The stock has a market cap of $606.40 million, a PE ratio of -4.95 and a beta of 1.16. The business has a 50-day simple moving average of $1.49 and a 200-day simple moving average of $2.01. Nextdoor Holdings, Inc. has a 52-week low of $1.32 and a 52-week high of $3.00.

Nextdoor (NYSE:KIND) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $54.18 million during the quarter, compared to analysts’ expectations of $53.14 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. Sell-side analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 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.