Charles Schwab Investment Management Inc. Acquires 75,229 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Charles Schwab Investment Management Inc. grew its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,406,161 shares of the company’s stock after acquiring an additional 75,229 shares during the period. Charles Schwab Investment Management Inc. owned about 0.37% of Nextdoor worth $3,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of KIND. Marshall Wace LLP bought a new stake in Nextdoor during the second quarter valued at about $4,327,000. Dimensional Fund Advisors LP lifted its position in shares of Nextdoor by 172.1% during 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 in the last quarter. Millennium Management LLC grew its stake 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 valued at $3,911,000 after acquiring an additional 526,108 shares during the period. Cornerstone Partners Capital Management LLC purchased a new stake in Nextdoor in the 3rd quarter worth approximately $791,000. Finally, Acadian Asset Management LLC bought a new position in shares of Nextdoor in the second quarter worth approximately $698,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Sophia Schwartz sold 16,834 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.45, for a total value of $41,243.30. Following the completion of the transaction, the general counsel now directly owns 215,536 shares of the company’s stock, valued at approximately $528,063.20. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 37,751 shares of company stock worth $94,904 in the last 90 days. 46.04% of the stock is currently owned by corporate insiders.

Nextdoor Trading Down 1.2 %

NYSE:KIND opened at $2.52 on Friday. The stock has a 50-day moving average price of $2.50 and a 200 day moving average price of $2.53. The stock has a market capitalization of $963.00 million, a P/E ratio of -7.88 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.

Nextdoor (NYSE:KIND) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $62.10 million. During the same period last year, the firm posted ($0.10) EPS. On average, research analysts predict that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.