JPMorgan Chase & Co. Buys 527,226 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

JPMorgan Chase & Co. raised its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 72.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,252,571 shares of the company’s stock after acquiring an additional 527,226 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.33% of Nextdoor worth $2,969,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in KIND. Vanguard Group Inc. lifted its position in Nextdoor by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock worth $41,735,000 after buying an additional 1,041,258 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Nextdoor by 5.3% during the third quarter. Geode Capital Management LLC now owns 4,042,728 shares of the company’s stock worth $10,028,000 after purchasing an additional 205,015 shares in the last quarter. State Street Corp grew its stake in shares of Nextdoor by 1.3% during the third quarter. State Street Corp now owns 3,568,959 shares of the company’s stock valued at $8,851,000 after purchasing an additional 46,595 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Nextdoor by 16.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company’s stock valued at $3,871,000 after purchasing an additional 227,208 shares in the last quarter. Finally, Sei Investments Co. raised its position in Nextdoor by 88.3% in the 4th quarter. Sei Investments Co. now owns 666,982 shares of the company’s stock worth $1,581,000 after purchasing an additional 312,767 shares during the last quarter. Institutional investors and hedge funds own 35.66% of the company’s stock.

Insider Activity

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.72, for a total value of $25,800.00. Following the completion of the transaction, the general counsel now owns 267,445 shares in the company, valued at $460,005.40. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 46.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Craig Hallum started coverage on Nextdoor in a research note on Thursday, January 30th. They issued a “buy” rating and a $4.00 target price for the company. The Goldman Sachs Group lowered their price objective on Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a research report on Monday, April 14th.

Nextdoor Trading Down 1.0 %

NYSE KIND opened at $1.42 on Wednesday. Nextdoor Holdings, Inc. has a 12 month low of $1.35 and a 12 month high of $3.00. The stock has a 50-day simple moving average of $1.80 and a 200 day simple moving average of $2.25. The company has a market capitalization of $546.62 million, a PE ratio of -4.42 and a beta of 1.16.

Nextdoor (NYSE:KIND) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $65.23 million for the quarter, compared to analysts’ expectations of $63.12 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. As a group, sell-side analysts predict that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

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.