Jacobs Levy Equity Management Inc. Buys 1,170,606 Shares of Nextdoor Holdings, Inc. $KIND

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its stake in Nextdoor Holdings, Inc. by 208.4% in the 1st quarter, owning 1,732,290 shares valued at approximately $2.65 million.
• Several institutional investors, including Tower Research Capital LLC and Ameriprise Financial Inc., have also boosted their holdings in Nextdoor, indicating increased institutional interest.
• Nextdoor's current stock price is around $2.01, with a 1-year price range between $1.32 and $3.00, and analysts provide a consensus rating of "Hold" with a price target of $2.21.

Jacobs Levy Equity Management Inc. boosted its holdings in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 208.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,732,290 shares of the company's stock after acquiring an additional 1,170,606 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.45% of Nextdoor worth $2,650,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in Nextdoor by 77.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock valued at $25,000 after acquiring an additional 4,514 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Nextdoor in the fourth quarter valued at about $27,000. Hurley Capital LLC bought a new stake in Nextdoor in the first quarter valued at about $38,000. Westside Investment Management Inc. bought a new stake in Nextdoor in the first quarter valued at about $41,000. Finally, Cerity Partners LLC bought a new stake in Nextdoor in the first quarter valued at about $45,000. Institutional investors own 35.66% of the company's stock.

Nextdoor Stock Performance

Nextdoor stock traded up $0.03 during trading hours on Friday, hitting $2.08. 1,472,631 shares of the stock were exchanged, compared to its average volume of 1,839,480. The stock has a market capitalization of $795.78 million, a P/E ratio of -8.67 and a beta of 1.19. Nextdoor Holdings, Inc. has a 12 month low of $1.32 and a 12 month high of $3.00. The business's 50-day moving average is $1.90 and its two-hundred day moving average is $1.68.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on shares of Nextdoor in a research note on Wednesday, June 25th. They issued a "neutral" rating and a $2.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Nextdoor has an average rating of "Hold" and an average target price of $2.21.

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.