Principal Financial Group Inc. Has $30,000 Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Principal Financial Group Inc. lessened its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 29.1% during the 3rd quarter, according to the company in its most recent Form 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 period. Principal Financial Group Inc.’s holdings in Nextdoor were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. XTX Topco Ltd acquired a new position in shares of Nextdoor during the 2nd quarter worth about $28,000. Xponance Inc. bought a new position in Nextdoor in the 2nd quarter worth approximately $31,000. Creative Planning bought a new stake in shares of Nextdoor in the third quarter valued at approximately $28,000. Savvy Advisors Inc. acquired a new stake in shares of Nextdoor in the third quarter worth $61,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Nextdoor during the second quarter worth $84,000. Institutional investors own 35.66% of the company’s stock.

Nextdoor Stock Performance

Shares of KIND stock opened at $2.42 on Tuesday. Nextdoor Holdings, Inc. has a 52 week low of $1.52 and a 52 week high of $2.99. The stock has a market capitalization of $922.87 million, a PE ratio of -7.55 and a beta of 1.05. The stock’s fifty day moving average is $2.45 and its 200-day moving average is $2.51.

Nextdoor (NYSE:KIND) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating 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 firm had revenue of $65.61 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter last year, the company posted ($0.10) EPS. As a group, analysts forecast that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Nextdoor

In other news, General Counsel Sophia Schwartz sold 16,834 shares of the firm’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 transaction, the general counsel now owns 215,536 shares of the company’s stock, valued at approximately $528,063.20. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 20,222 shares of company stock worth $49,679 over the last 90 days. 46.04% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group increased 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.

Nextdoor 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.