American International Group Inc. purchased a new position in Nextdoor Holdings, Inc. (NYSE:KIND – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 70,063 shares of the company’s stock, valued at approximately $228,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in KIND. Envestnet Asset Management Inc. bought a new stake in shares of Nextdoor in the first quarter worth $70,000. Raymond James & Associates increased its stake in Nextdoor by 79.1% during the first quarter. Raymond James & Associates now owns 81,309 shares of the company’s stock valued at $487,000 after purchasing an additional 35,900 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Nextdoor by 68.8% during the first quarter. Bank of New York Mellon Corp now owns 29,796 shares of the company’s stock valued at $178,000 after purchasing an additional 12,146 shares during the last quarter. BlackRock Inc. increased its stake in Nextdoor by 8.9% during the first quarter. BlackRock Inc. now owns 957,620 shares of the company’s stock valued at $5,736,000 after purchasing an additional 78,526 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Nextdoor by 0.5% during the first quarter. Vanguard Group Inc. now owns 3,765,561 shares of the company’s stock valued at $22,555,000 after purchasing an additional 17,665 shares during the last quarter. Institutional investors own 25.92% of the company’s stock.
Analysts Set New Price Targets
Several research firms have weighed in on KIND. The Goldman Sachs Group lowered their target price on shares of Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a research note on Thursday, November 9th. Morgan Stanley lowered their target price on shares of Nextdoor from $2.40 to $2.20 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Finally, Evercore ISI lowered shares of Nextdoor from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $5.00 to $3.00 in a research note on Wednesday, November 8th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.75.
Nextdoor Stock Performance
Shares of KIND opened at $1.64 on Tuesday. Nextdoor Holdings, Inc. has a 1 year low of $1.32 and a 1 year high of $3.42. The company has a market cap of $631.61 million, a price-to-earnings ratio of -4.43 and a beta of 0.83. The firm has a fifty day moving average of $1.81 and a 200-day moving average of $2.35.
Nextdoor Holdings, Inc operates a neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. It enables small and mid-sized businesses, large brands, public agencies, and nonprofits to receive information, give and get help, and build connections with neighborhood stakeholders.
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