Dimensional Fund Advisors LP Grows Stock Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Dimensional Fund Advisors LP increased its stake in Nextdoor Holdings, Inc. (NYSE:KIND) by 172.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,218,808 shares of the company’s stock after buying an additional 770,858 shares during the period. Dimensional Fund Advisors LP owned about 0.31% of Nextdoor worth $3,388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KIND. Flight Deck Capital LP lifted its stake in Nextdoor by 2.2% in the 4th quarter. Flight Deck Capital LP now owns 2,369,607 shares of the company’s stock worth $4,479,000 after acquiring an additional 51,237 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Nextdoor in the fourth quarter valued at about $77,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Nextdoor by 21.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,698,259 shares of the company’s stock worth $26,321,000 after purchasing an additional 2,058,131 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of Nextdoor by 294.3% in the first quarter. Westside Investment Management Inc. now owns 15,408 shares of the company’s stock valued at $35,000 after acquiring an additional 11,500 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its stake in Nextdoor by 21.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 11,698,259 shares of the company’s stock valued at $26,321,000 after buying an additional 2,058,131 shares in the last quarter. 35.66% of the stock is currently owned by institutional investors and hedge funds.

Nextdoor Price Performance

KIND stock opened at $2.42 on Friday. Nextdoor Holdings, Inc. has a 1 year low of $1.32 and a 1 year high of $2.99. The company’s 50-day moving average is $2.45 and its 200-day moving average is $2.44. The stock has a market capitalization of $944.48 million, a PE ratio of -6.72 and a beta of 1.08.

Nextdoor (NYSE:KIND) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Nextdoor had a negative net margin of 65.63% and a negative return on equity of 22.69%. The firm had revenue of $63.29 million for the quarter, compared to analyst estimates of $58.80 million. On average, analysts anticipate that Nextdoor Holdings, Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upped their price target on shares of Nextdoor from $2.20 to $2.50 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd.

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.