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Robert Hohman, a director at Nextdoor Holdings, Inc. (NYSE:KIND), recently made significant purchases of the company’s Class A Common Stock, showing insider confidence despite the stock’s 33% decline over the past week. According to InvestingPro data, the company maintains impressive gross profit margins of 83%. On March 3, Hohman acquired a total of 300,000 shares in two separate transactions. The first purchase involved 100,000 shares at a weighted average price of $1.685 per share, while the second transaction saw him buy 200,000 shares at a weighted average price of $1.6549 per share. The total cost of these purchases amounted to $499,480, with transaction prices ranging from $1.62 to $1.72 per share. Following these acquisitions, Hohman now holds 300,000 shares directly. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional exclusive insights available to subscribers, including detailed valuation metrics and growth prospects.
In other recent news, Nextdoor Holdings Inc. announced its fourth-quarter results, revealing a 17% increase in revenue to $65 million, surpassing the forecast of $62.74 million. Despite achieving its first positive adjusted EBITDA of $3 million, the company’s stock experienced a decline, reflecting investor concerns over future growth prospects. The San Francisco-based company reported a narrower net loss of $12.1 million for the quarter, improving from a $40.5 million loss the previous year. For the full year, Nextdoor’s revenue rose by 13% to $247.3 million, with a reduced net loss of $98.1 million compared to the prior year’s $147.8 million loss. Analyst firm Craig-Hallum adjusted its price target for Nextdoor, lowering it to $3.50 from $4.00, while maintaining a Buy rating, citing the potential of the company’s NEXT initiative. This initiative, aimed at transforming the user experience, is expected to launch fully by mid-2025, with promising early results from six test markets. Nextdoor ended the year with a strong cash position of $427 million, which provides strategic flexibility as it focuses on long-term growth through the NEXT platform.
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