Charles Schwab Investment Management Inc. Raises Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

Charles Schwab Investment Management Inc. increased its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,633,369 shares of the company’s stock after purchasing an additional 227,208 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.43% of Nextdoor worth $3,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. US Bancorp DE acquired a new stake in shares of Nextdoor during the 4th quarter valued at about $29,000. SVB Wealth LLC acquired a new position in Nextdoor during the fourth quarter worth about $27,000. Versor Investments LP purchased a new stake in shares of Nextdoor in the fourth quarter valued at approximately $121,000. Bank of New York Mellon Corp increased its stake in shares of Nextdoor by 6.9% in the 4th quarter. Bank of New York Mellon Corp now owns 422,076 shares of the company’s stock worth $1,000,000 after acquiring an additional 27,067 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in Nextdoor by 103.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 64,803 shares of the company’s stock worth $157,000 after purchasing an additional 33,023 shares during the last quarter. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Insider Transactions at Nextdoor

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $1.72, for a total transaction of $25,800.00. Following the transaction, the general counsel now directly owns 267,445 shares in the company, valued at approximately $460,005.40. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 46.04% of the company’s stock.

Wall Street Analyst Weigh In

KIND has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their target price on Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Craig Hallum started coverage on shares of Nextdoor in a research report on Thursday, January 30th. They issued a “buy” rating and a $4.00 price target for the company.

Nextdoor Price Performance

NYSE:KIND opened at $1.67 on Thursday. The business’s fifty day moving average price is $2.27 and its 200 day moving average price is $2.39. The firm has a market capitalization of $643.19 million, a PE ratio of -5.20 and a beta of 1.14. Nextdoor Holdings, Inc. has a 12 month low of $1.60 and a 12 month high of $3.00.

Nextdoor (NYSE:KIND) last issued its earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. The business had revenue of $65.23 million during the quarter, compared to analysts’ expectations of $63.12 million. As a group, equities analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

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.