Sumitomo Mitsui Trust Group Inc. Lowers Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,907,840 shares of the company’s stock after selling 976,921 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 2.33% of Nextdoor worth $21,112,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KIND. Creative Planning purchased a new stake in shares of Nextdoor during the third quarter valued at $28,000. R Squared Ltd bought a new stake in shares of Nextdoor in the fourth quarter valued at about $45,000. Savvy Advisors Inc. bought a new stake in shares of Nextdoor in the third quarter valued at about $61,000. Asset Management One Co. Ltd. bought a new stake in shares of Nextdoor in the third quarter valued at about $79,000. Finally, Intech Investment Management LLC bought a new stake in shares of Nextdoor in the third quarter valued at about $84,000. 35.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nextdoor news, General Counsel Sophia Schwartz sold 16,834 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $528,063.20. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 20,222 shares of company stock worth $49,679. 46.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on KIND. The Goldman Sachs Group lifted their price objective on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Craig Hallum began coverage on Nextdoor in a report on Thursday, January 30th. They issued a “buy” rating and a $4.00 price objective for the company.

Nextdoor Stock Performance

Shares of Nextdoor stock opened at $2.69 on Thursday. The company has a market capitalization of $1.03 billion, a PE ratio of -8.41 and a beta of 1.07. The company has a 50-day simple moving average of $2.50 and a two-hundred day simple moving average of $2.49. Nextdoor Holdings, Inc. has a one year low of $1.61 and a one year high of $2.99.

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.