Jane Street Group LLC Reduces Stock Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

Jane Street Group LLC trimmed its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 44.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 318,496 shares of the company’s stock after selling 252,237 shares during the quarter. Jane Street Group LLC’s holdings in Nextdoor were worth $790,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of KIND. State Street Corp boosted its stake in shares of 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 purchasing an additional 46,595 shares during the period. Potrero Capital Research LLC lifted its stake in Nextdoor by 29.4% in the third quarter. Potrero Capital Research LLC now owns 2,897,238 shares of the company’s stock worth $7,185,000 after purchasing an additional 657,492 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Nextdoor during the third quarter valued at approximately $152,000. Comprehensive Financial Management LLC grew its stake in shares of Nextdoor by 133.3% during the third quarter. Comprehensive Financial Management LLC now owns 112,000 shares of the company’s stock valued at $278,000 after buying an additional 64,000 shares during the last quarter. Finally, Verition Fund Management LLC grew its stake in shares of Nextdoor by 142.9% during the third quarter. Verition Fund Management LLC now owns 52,900 shares of the company’s stock valued at $131,000 after buying an additional 31,121 shares during the last quarter. Institutional investors own 35.66% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Sophia Schwartz sold 16,834 shares of Nextdoor stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $2.45, for a total value of $41,243.30. Following the completion of the sale, the general counsel now directly owns 215,536 shares in the company, valued at $528,063.20. The trade was a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 37,751 shares of company stock valued at $94,904 over the last quarter. 46.04% of the stock is owned by corporate insiders.

Nextdoor Trading Up 2.1 %

NYSE KIND opened at $2.42 on Friday. The stock has a market cap of $924.79 million, a PE ratio of -7.56 and a beta of 1.07. Nextdoor Holdings, Inc. has a 12 month low of $1.32 and a 12 month high of $2.99. The company’s 50-day moving average price is $2.48 and its 200-day moving average price is $2.53.

Nextdoor (NYSE:KIND) last issued its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. The business had revenue of $65.61 million for the quarter, compared to the consensus estimate of $62.10 million. During the same period in the prior year, the firm earned ($0.10) EPS. As a group, sell-side analysts forecast that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.