Jane Street Group LLC Grows Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

Jane Street Group LLC raised its stake in Nextdoor Holdings, Inc. (NYSE:KIND) by 13.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 360,469 shares of the company’s stock after acquiring an additional 41,973 shares during the period. Jane Street Group LLC owned approximately 0.09% of Nextdoor worth $854,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake 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 worth $3,871,000 after acquiring an additional 227,208 shares during the last quarter. Cornerstone Partners Capital Management LLC grew its stake 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 worth $1,390,000 after acquiring an additional 267,527 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Nextdoor by 72.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,252,571 shares of the company’s stock worth $2,969,000 after acquiring an additional 527,226 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Nextdoor by 41.3% in the fourth quarter. MetLife Investment Management LLC now owns 105,706 shares of the company’s stock worth $251,000 after acquiring an additional 30,908 shares during the last quarter. Finally, Cannell Capital LLC boosted its position in shares of Nextdoor by 8.4% during the fourth quarter. Cannell Capital LLC now owns 6,733,574 shares of the company’s stock valued at $15,959,000 after buying an additional 524,342 shares during the last quarter. 35.66% of the stock is owned by hedge funds and other institutional investors.

Nextdoor Stock Performance

KIND stock opened at $1.48 on Friday. Nextdoor Holdings, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $3.00. The business’s 50-day moving average is $1.50 and its two-hundred day moving average is $2.09. The company has a market cap of $564.32 million, a price-to-earnings ratio of -4.61 and a beta of 1.16.

Nextdoor (NYSE:KIND) last posted its earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The company had revenue of $54.18 million for the quarter, compared to the consensus estimate of $53.14 million. Equities analysts predict that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Insider Buying and Selling at Nextdoor

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 transaction, the general counsel now owns 267,445 shares of the company’s stock, valued at $460,005.40. This trade represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 46.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on KIND shares. Morgan Stanley cut Nextdoor from an “equal weight” rating to an “underweight” rating and set a $1.10 price objective on the stock. in a research report on Tuesday, May 13th. Craig Hallum started coverage on Nextdoor in a research report on Thursday, January 30th. They set a “buy” rating and a $4.00 price objective on the stock. Finally, The Goldman Sachs Group dropped their price objective on Nextdoor from $2.50 to $1.75 and set a “neutral” rating on the stock in a research report on Monday, April 14th.

Nextdoor Company 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.