Northern Trust Corp Increases Stock Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Northern Trust Corp grew its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,638,341 shares of the company's stock after buying an additional 186,602 shares during the quarter. Northern Trust Corp owned 0.43% of Nextdoor worth $3,883,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in KIND. Charles Schwab Investment Management Inc. increased its stake in shares of Nextdoor by 16.2% during 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 period. Cornerstone Partners Capital Management LLC increased its position in Nextdoor by 83.9% during the 4th quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company's stock worth $1,390,000 after purchasing an additional 267,527 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Nextdoor by 72.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,252,571 shares of the company's stock worth $2,969,000 after buying an additional 527,226 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Nextdoor by 41.3% in the 4th quarter. MetLife Investment Management LLC now owns 105,706 shares of the company's stock valued at $251,000 after buying an additional 30,908 shares during the period. Finally, Cannell Capital LLC lifted its holdings in shares of Nextdoor by 8.4% in the 4th 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 period. Institutional investors and hedge funds own 35.66% of the company's stock.

Insider Activity at Nextdoor

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.72, for a total transaction of $25,800.00. Following the transaction, the general counsel now directly owns 267,445 shares in the company, valued at $460,005.40. This represents a 5.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 46.04% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KIND shares. 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 report on Monday, April 14th. Morgan Stanley cut shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price target on the stock. in a research note on Tuesday, May 13th. Finally, Craig Hallum initiated coverage on shares of Nextdoor in a report on Thursday, January 30th. They issued a "buy" rating and a $4.00 price target for the company.

Nextdoor Stock Up 1.0%

Shares of KIND traded up $0.02 during mid-day trading on Wednesday, reaching $1.54. 1,963,347 shares of the company's stock were exchanged, compared to its average volume of 1,817,552. Nextdoor Holdings, Inc. has a 52-week low of $1.32 and a 52-week high of $3.00. The company has a market cap of $587.27 million, a price-to-earnings ratio of -4.80 and a beta of 1.16. The company has a 50-day simple moving average of $1.49 and a two-hundred day simple moving average of $2.07.

Nextdoor (NYSE:KIND - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $53.14 million. As a group, equities research analysts predict that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

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.