Geode Capital Management LLC Purchases 205,015 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Geode Capital Management LLC raised its position in Nextdoor Holdings, Inc. (NYSE:KIND) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,042,728 shares of the company’s stock after acquiring an additional 205,015 shares during the period. Geode Capital Management LLC’s holdings in Nextdoor were worth $10,028,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of Nextdoor in the second quarter valued at $4,327,000. Dimensional Fund Advisors LP increased its holdings in Nextdoor by 172.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,218,808 shares of the company’s stock valued at $3,388,000 after buying an additional 770,858 shares during the period. Potrero Capital Research LLC raised its stake in shares of Nextdoor by 29.4% in the 3rd quarter. Potrero Capital Research LLC now owns 2,897,238 shares of the company’s stock valued at $7,185,000 after buying an additional 657,492 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Nextdoor by 59.7% during the 2nd quarter. Millennium Management LLC now owns 1,406,953 shares of the company’s stock worth $3,911,000 after acquiring an additional 526,108 shares during the period. Finally, Cornerstone Partners Capital Management LLC bought a new position in shares of Nextdoor during the 3rd quarter worth about $791,000. Institutional investors own 35.66% of the company’s stock.

Nextdoor Price Performance

Shares of KIND stock opened at $2.37 on Thursday. The stock’s fifty day simple moving average is $2.48 and its 200 day simple moving average is $2.53. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $2.99. The firm has a market cap of $905.68 million, a price-to-earnings ratio of -7.41 and a beta of 1.07.

Nextdoor (NYSE:KIND) last issued its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $65.61 million for the quarter, compared to the consensus estimate of $62.10 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. During the same quarter in the previous year, the company earned ($0.10) EPS. On average, research analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Nextdoor

In related news, General Counsel Sophia Schwartz sold 16,834 shares of the firm’s stock in a transaction 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 completion of the sale, the general counsel now directly owns 215,536 shares of the company’s stock, valued at $528,063.20. This trade represents a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 37,751 shares of company stock worth $94,904 over the last ninety days. Corporate insiders own 46.04% of the company’s stock.

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.