Jacobs Levy Equity Management Inc. Has $2.65 Million Holdings in 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. increased its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 208.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 about 0.45% of Nextdoor worth $2,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Occudo Quantitative Strategies LP lifted its stake in Nextdoor by 3.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 138,203 shares of the company's stock valued at $328,000 after buying an additional 4,091 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Nextdoor by 77.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock worth $25,000 after purchasing an additional 4,514 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Nextdoor by 13.9% in the first quarter. Arizona State Retirement System now owns 55,626 shares of the company's stock worth $85,000 after purchasing an additional 6,793 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Nextdoor by 4.7% in the first quarter. OneDigital Investment Advisors LLC now owns 155,290 shares of the company's stock worth $238,000 after purchasing an additional 7,024 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Nextdoor in the fourth quarter worth $27,000. Institutional investors own 35.66% of the company's stock.

Wall Street Analyst Weigh In

Separately, B. Riley began coverage on shares of Nextdoor in a research report on Wednesday, June 25th. They issued a "neutral" rating and a $2.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.21.

Nextdoor Stock Performance

Shares of Nextdoor stock traded up $0.03 on Monday, hitting $2.08. The stock had a trading volume of 1,472,631 shares, compared to its average volume of 1,839,480. The stock has a 50 day moving average of $1.90 and a 200 day moving average of $1.67. Nextdoor Holdings, Inc. has a twelve month low of $1.32 and a twelve month high of $3.00. The firm has a market capitalization of $795.78 million, a P/E ratio of -8.67 and a beta of 1.19.

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.