Barclays PLC Increases Stock Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Barclays PLC grew its stake in Nextdoor Holdings, Inc. (NYSE:KIND) by 326.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,490 shares of the company’s stock after purchasing an additional 204,729 shares during the quarter. Barclays PLC owned about 0.07% of Nextdoor worth $663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KIND. Charles Schwab Investment Management Inc. increased its position in shares of Nextdoor by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,406,161 shares of the company’s stock valued at $3,487,000 after purchasing an additional 75,229 shares during the last quarter. Travelers Companies Inc. bought a new stake in Nextdoor in the third quarter worth $593,000. Dynamic Technology Lab Private Ltd grew its position in Nextdoor by 261.8% in the third quarter. Dynamic Technology Lab Private Ltd now owns 69,474 shares of the company’s stock worth $172,000 after acquiring an additional 50,273 shares in the last quarter. Millennium Management LLC lifted its position in Nextdoor by 59.7% in the second quarter. Millennium Management LLC now owns 1,406,953 shares of the company’s stock worth $3,911,000 after buying an additional 526,108 shares during the last quarter. Finally, Cornerstone Partners Capital Management LLC bought a new stake in Nextdoor in the third quarter worth about $791,000. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Nextdoor Stock Performance

KIND stock opened at $2.37 on Thursday. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $2.99. The firm’s 50 day moving average price is $2.48 and its 200-day moving average price is $2.53. The firm has a market cap of $905.68 million, a PE ratio of -7.41 and a beta of 1.07.

Nextdoor (NYSE:KIND) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $65.61 million for the quarter, compared to analyst estimates of $62.10 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Equities research analysts predict that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity at Nextdoor

In other news, General Counsel Sophia Schwartz sold 17,529 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total value of $45,224.82. Following the completion of the sale, the general counsel now directly owns 304,666 shares of the company’s stock, valued at approximately $786,038.28. This represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 37,751 shares of company stock valued at $94,904 over the last three months. 46.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.