Northern Trust Corp Acquires 186,602 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Northern Trust Corp lifted its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,638,341 shares of the company's stock after buying an additional 186,602 shares during the quarter. Northern Trust Corp owned about 0.43% of Nextdoor worth $3,883,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KIND. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nextdoor by 16.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company's stock valued at $3,871,000 after buying an additional 227,208 shares during the last quarter. Cornerstone Partners Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 267,527 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Nextdoor by 72.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,252,571 shares of the company's stock valued at $2,969,000 after purchasing an additional 527,226 shares in the last quarter. MetLife Investment Management LLC boosted its stake 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 purchasing an additional 30,908 shares in the last quarter. Finally, Cannell Capital LLC raised its position in Nextdoor by 8.4% in the fourth quarter. Cannell Capital LLC now owns 6,733,574 shares of the company's stock valued at $15,959,000 after purchasing an additional 524,342 shares during the last quarter. 35.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on 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. Morgan Stanley lowered Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price objective for the company. in a report on Tuesday, May 13th. Finally, Craig Hallum initiated coverage on shares of Nextdoor in a research note on Thursday, January 30th. They issued a "buy" rating and a $4.00 price objective for the company.

Insider Transactions at Nextdoor

In related news, General Counsel Sophia Schwartz sold 15,000 shares of the firm's stock in a transaction that occurred on 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 directly owns 267,445 shares of the company's stock, valued at $460,005.40. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 46.04% of the company's stock.

Nextdoor Trading Down 1.6%

Shares of Nextdoor stock traded down $0.03 on Wednesday, hitting $1.50. 178,708 shares of the company traded hands, compared to its average volume of 1,811,959. The stock's 50 day moving average price is $1.49 and its 200-day moving average price is $2.07. The company has a market cap of $571.97 million, a PE ratio of -4.67 and a beta of 1.16. Nextdoor Holdings, Inc. has a 52 week low of $1.32 and a 52 week high of $3.00.

Nextdoor (NYSE:KIND - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.06) EPS 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 firm had revenue of $54.18 million for the quarter, compared to analyst estimates of $53.14 million. As a group, research analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

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.