Vanguard Group Inc. Grows Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Vanguard Group Inc. raised its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,609,806 shares of the company’s stock after purchasing an additional 1,041,258 shares during the period. Vanguard Group Inc.’s holdings in Nextdoor were worth $41,735,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. AXQ Capital LP bought a new position in shares of Nextdoor during the fourth quarter valued at approximately $25,000. SVB Wealth LLC bought a new position in Nextdoor in the fourth quarter worth approximately $27,000. US Bancorp DE purchased a new stake in Nextdoor during the fourth quarter worth $29,000. Cibc World Markets Corp bought a new stake in Nextdoor during the 4th quarter valued at $38,000. Finally, Virtu Financial LLC bought a new stake in Nextdoor during the 4th quarter valued at $41,000. Institutional investors own 35.66% of the company’s stock.

Nextdoor Trading Up 1.5 %

NYSE KIND opened at $1.49 on Friday. The firm’s fifty day simple moving average is $1.97 and its two-hundred day simple moving average is $2.30. The firm has a market capitalization of $576.36 million, a P/E ratio of -4.66 and a beta of 1.16. Nextdoor Holdings, Inc. has a 12-month low of $1.35 and a 12-month high of $3.00.

Nextdoor (NYSE:KIND) last announced its earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The firm had revenue of $65.23 million for the quarter, compared to the consensus estimate of $63.12 million. As a group, sell-side analysts predict that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Nextdoor

In related news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 267,445 shares in the company, valued at $460,005.40. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 46.04% of the company’s stock.

Wall Street Analyst Weigh In

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

Nextdoor Profile

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.