Nextdoor Holdings, Inc. $KIND Holdings Raised by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its ownership in Nextdoor Holdings, Inc. by 4.2% during the first quarter, now holding 18,352,384 shares valued at approximately $28 million.
• Several hedge funds, including Potrero Capital Research LLC and Millennium Management LLC, significantly boosted their stakes in Nextdoor during the fourth quarter, reflecting growing institutional interest.
• Nextdoor's stock price has seen recent fluctuations, with an average target price of $2.21 set by analysts, while Morgan Stanley downgraded it to an "underweight" rating with a target of $1.10.

Vanguard Group Inc. increased its stake in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,352,384 shares of the company's stock after purchasing an additional 742,578 shares during the period. Vanguard Group Inc. owned 4.75% of Nextdoor worth $28,079,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in Nextdoor by 77.1% during the 4th 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 in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Nextdoor during the 4th quarter valued at $27,000. Two Sigma Securities LLC bought a new stake in Nextdoor during the 4th quarter valued at $34,000. Hurley Capital LLC bought a new stake in Nextdoor during the 1st quarter valued at $38,000. Finally, Westside Investment Management Inc. bought a new stake in Nextdoor during the 1st quarter valued at $41,000. Institutional investors own 35.66% of the company's stock.

Nextdoor Price Performance

Shares of KIND remained flat at $2.05 during midday trading on Monday. The stock had a trading volume of 985,104 shares, compared to its average volume of 1,839,480. Nextdoor Holdings, Inc. has a 12 month low of $1.32 and a 12 month high of $3.00. The firm has a 50 day moving average of $1.81 and a 200 day moving average of $1.72. The firm has a market cap of $784.31 million, a P/E ratio of -8.54 and a beta of 1.19.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KIND. B. Riley began coverage on Nextdoor in a research note on Wednesday, June 25th. They set a "neutral" rating and a $2.00 target price on the stock. Morgan Stanley downgraded Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 target price on the stock. in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Nextdoor has a consensus rating of "Hold" and an average price target of $2.21.

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.