Nextdoor Holdings, Inc. (NYSE:KIND) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 72.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,252,571 shares of the company's stock after buying an additional 527,226 shares during the quarter. JPMorgan Chase & Co. owned about 0.33% of Nextdoor worth $2,969,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Nextdoor by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company's stock worth $41,735,000 after purchasing an additional 1,041,258 shares during the last quarter. Geode Capital Management LLC raised its position in Nextdoor by 5.3% during the third quarter. Geode Capital Management LLC now owns 4,042,728 shares of the company's stock valued at $10,028,000 after acquiring an additional 205,015 shares in the last quarter. State Street Corp raised its position in Nextdoor by 1.3% during the third quarter. State Street Corp now owns 3,568,959 shares of the company's stock valued at $8,851,000 after acquiring an additional 46,595 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Nextdoor by 16.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company's stock valued at $3,871,000 after acquiring an additional 227,208 shares in the last quarter. Finally, Sei Investments Co. raised its position in Nextdoor by 88.3% during the fourth quarter. Sei Investments Co. now owns 666,982 shares of the company's stock valued at $1,581,000 after acquiring an additional 312,767 shares in the last quarter. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

Nextdoor Price Performance

KIND remained flat at $1.50 during trading on Monday. The company's stock had a trading volume of 1,119,012 shares, compared to its average volume of 1,794,599. Nextdoor Holdings, Inc. has a one year low of $1.35 and a one year high of $3.00. The business's fifty day moving average price is $1.70 and its two-hundred day moving average price is $2.22. The company has a market cap of $579.45 million, a price-to-earnings ratio of -4.69 and a beta of 1.16.

Nextdoor (NYSE:KIND - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The company had revenue of $65.23 million for the quarter, compared to analyst estimates of $63.12 million. Equities research analysts forecast that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KIND shares. The Goldman Sachs Group reduced their price target on Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a research report on Monday, April 14th. Craig Hallum started coverage on Nextdoor in a research report on Thursday, January 30th. They set a "buy" rating and a $4.00 price target for the company.

Insider Buying and Selling at Nextdoor

In other news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor 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 sale, the general counsel now directly owns 267,445 shares of the company's stock, valued at $460,005.40. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 46.04% of the stock is owned by corporate insiders.

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.