Principal Financial Group Inc. Sells 4,981 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Principal Financial Group Inc. lowered its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 29.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,122 shares of the company’s stock after selling 4,981 shares during the quarter. Principal Financial Group Inc.’s holdings in Nextdoor were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in KIND. XTX Topco Ltd acquired a new position in Nextdoor during the second quarter worth $28,000. Creative Planning bought a new stake in Nextdoor during the 3rd quarter worth about $28,000. Ground Swell Capital LLC acquired a new position in shares of Nextdoor during the 2nd quarter worth about $30,000. Xponance Inc. bought a new position in shares of Nextdoor in the 2nd quarter valued at about $31,000. Finally, nVerses Capital LLC acquired a new stake in shares of Nextdoor in the second quarter valued at about $49,000. 35.66% of the stock is owned by institutional investors.

Nextdoor Trading Down 2.2 %

NYSE KIND opened at $2.48 on Wednesday. The firm has a market capitalization of $945.80 million, a P/E ratio of -7.84 and a beta of 1.08. The firm’s fifty day moving average price is $2.48 and its two-hundred day moving average price is $2.52. Nextdoor Holdings, Inc. has a 1 year low of $1.32 and a 1 year high of $2.99.

Nextdoor (NYSE:KIND) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $65.61 million for the quarter, compared to analyst estimates of $62.10 million. During the same period in the previous year, the business earned ($0.10) EPS. On average, research analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Nextdoor

In other Nextdoor news, General Counsel Sophia Schwartz sold 17,529 shares of Nextdoor stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total transaction of $45,224.82. Following the completion of the transaction, the general counsel now directly owns 304,666 shares of the company’s stock, valued at $786,038.28. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 46.04% of the company’s stock.

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.