JPMorgan Chase & Co. Has $2.97 Million Stock Position in Nextdoor Holdings, Inc. (NYSE:KIND)

JPMorgan Chase & Co. grew its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 72.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,252,571 shares of the company’s stock after purchasing an additional 527,226 shares during the quarter. JPMorgan Chase & Co.’s holdings in Nextdoor were worth $2,969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Nextdoor by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock worth $41,735,000 after purchasing an additional 1,041,258 shares during the period. Geode Capital Management LLC grew its holdings in Nextdoor by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,042,728 shares of the company’s stock valued at $10,028,000 after buying an additional 205,015 shares in the last quarter. State Street Corp increased its position in Nextdoor by 1.3% during the 3rd quarter. State Street Corp now owns 3,568,959 shares of the company’s stock worth $8,851,000 after buying an additional 46,595 shares during the period. Charles Schwab Investment Management Inc. increased its position in Nextdoor by 16.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company’s stock worth $3,871,000 after acquiring an additional 227,208 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Nextdoor by 88.3% during the fourth quarter. Sei Investments Co. now owns 666,982 shares of the company’s stock worth $1,581,000 after purchasing an additional 312,767 shares during the period. Institutional investors own 35.66% of the company’s stock.

Nextdoor Trading Down 1.0 %

NYSE:KIND opened at $1.42 on Wednesday. The stock’s 50-day moving average is $1.80 and its 200-day moving average is $2.25. The stock has a market cap of $546.62 million, a P/E ratio of -4.42 and a beta of 1.16. Nextdoor Holdings, Inc. has a 1-year low of $1.35 and a 1-year high of $3.00.

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

Insider Activity at Nextdoor

In related news, General Counsel Sophia Schwartz sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.72, for a total value of $25,800.00. Following the sale, the general counsel now directly owns 267,445 shares in the company, valued at $460,005.40. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 46.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KIND shares. The Goldman Sachs Group cut their price objective on shares of Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a research report on Monday, April 14th. Craig Hallum began coverage on Nextdoor in a research note on Thursday, January 30th. They issued a “buy” rating and a $4.00 price target for the company.

Nextdoor Company 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.