State Street Corp Raises Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

State Street Corp raised its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 1.3% in the third quarter, Holdings Channel reports. The institutional investor owned 3,568,959 shares of the company’s stock after buying an additional 46,595 shares during the quarter. State Street Corp’s holdings in Nextdoor were worth $8,851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Nextdoor by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 532,872 shares of the company’s stock valued at $1,481,000 after purchasing an additional 31,133 shares in the last quarter. nVerses Capital LLC bought a new position in Nextdoor in the 2nd quarter worth about $49,000. Versor Investments LP purchased a new stake in shares of Nextdoor in the 2nd quarter valued at about $75,000. Rhumbline Advisers raised its holdings in shares of Nextdoor by 29.5% in the 2nd quarter. Rhumbline Advisers now owns 246,804 shares of the company’s stock valued at $686,000 after acquiring an additional 56,279 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Nextdoor during the 2nd quarter valued at about $698,000. 35.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their target price on shares of Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th.

Insider Activity

In related news, General Counsel Sophia Schwartz sold 16,834 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.45, for a total transaction of $41,243.30. Following the transaction, the general counsel now directly owns 215,536 shares in the company, valued at $528,063.20. This trade represents a 7.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 37,751 shares of company stock valued at $94,904. Corporate insiders own 46.04% of the company’s stock.

Nextdoor Stock Up 0.4 %

NYSE KIND opened at $2.42 on Friday. The stock’s 50-day simple moving average is $2.48 and its two-hundred day simple moving average is $2.53. Nextdoor Holdings, Inc. has a twelve month low of $1.32 and a twelve month high of $2.99. The company has a market capitalization of $924.78 million, a price-to-earnings ratio of -7.56 and a beta of 1.07.

Nextdoor (NYSE:KIND) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $65.61 million for the quarter, compared to analysts’ expectations of $62.10 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. During the same period last year, the firm posted ($0.10) EPS. On average, equities analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

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.