Bank of New York Mellon Corp Raises Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

Bank of New York Mellon Corp lifted its position in Nextdoor Holdings, Inc. (NYSE:KIND) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 422,076 shares of the company’s stock after purchasing an additional 27,067 shares during the period. Bank of New York Mellon Corp owned about 0.11% of Nextdoor worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of KIND. Asset Management One Co. Ltd. boosted its holdings in Nextdoor by 103.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 64,803 shares of the company’s stock worth $157,000 after buying an additional 33,023 shares during the period. Cornerstone Partners Capital Management LLC lifted its position in shares of Nextdoor by 83.9% in the fourth quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company’s stock valued at $1,390,000 after acquiring an additional 267,527 shares in the last quarter. R Squared Ltd bought a new position in shares of Nextdoor in the fourth quarter worth about $45,000. SG Americas Securities LLC grew its position in shares of Nextdoor by 51.9% during the fourth quarter. SG Americas Securities LLC now owns 95,537 shares of the company’s stock worth $226,000 after purchasing an additional 32,658 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Nextdoor by 62.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company’s stock valued at $1,799,000 after purchasing an additional 278,185 shares during the period. 35.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Nextdoor Trading Up 3.3 %

NYSE:KIND opened at $1.75 on Tuesday. The business’s 50-day moving average is $2.29 and its 200 day moving average is $2.40. Nextdoor Holdings, Inc. has a 12 month low of $1.60 and a 12 month high of $3.00. The company has a market capitalization of $674.10 million, a P/E ratio of -5.45 and a beta of 1.14.

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

Insider Buying and Selling at Nextdoor

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

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.