Jacobs Levy Equity Management Inc. Acquires 500,555 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Jacobs Levy Equity Management Inc. increased its stake in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 818.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 561,684 shares of the company's stock after buying an additional 500,555 shares during the period. Jacobs Levy Equity Management Inc. owned 0.15% of Nextdoor worth $1,331,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KIND. Graham Capital Management L.P. grew its holdings in Nextdoor by 115.5% in the fourth quarter. Graham Capital Management L.P. now owns 106,416 shares of the company's stock worth $252,000 after purchasing an additional 57,029 shares during the period. Deutsche Bank AG grew its holdings in Nextdoor by 79.6% in the fourth quarter. Deutsche Bank AG now owns 142,910 shares of the company's stock worth $339,000 after purchasing an additional 63,325 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in Nextdoor by 193.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,082,482 shares of the company's stock worth $4,935,000 after purchasing an additional 1,371,705 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Nextdoor in the fourth quarter worth about $1,361,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Nextdoor by 396.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 116,391 shares of the company's stock valued at $276,000 after buying an additional 92,968 shares during the last quarter. 35.66% of the stock is owned by institutional investors.

Nextdoor Price Performance

Nextdoor stock traded up $0.02 during midday trading on Thursday, reaching $1.46. 569,133 shares of the company traded hands, compared to its average volume of 1,808,890. The firm has a market capitalization of $556.67 million, a price-to-earnings ratio of -4.55 and a beta of 1.16. The business has a 50 day moving average of $1.51 and a two-hundred day moving average of $2.11. Nextdoor Holdings, Inc. has a 12 month low of $1.32 and a 12 month high of $3.00.

Nextdoor (NYSE:KIND - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The company had revenue of $54.18 million for the quarter, compared to the consensus estimate of $53.14 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. As a group, equities analysts forecast that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Insider Activity at Nextdoor

In related news, General Counsel Sophia Schwartz sold 15,000 shares of the stock in a transaction that occurred on 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 owns 267,445 shares in the company, valued at $460,005.40. This represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 46.04% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on KIND. Craig Hallum began coverage on shares of Nextdoor in a report on Thursday, January 30th. They set a "buy" rating and a $4.00 price target on the stock. The Goldman Sachs Group cut their price target on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, 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 report on Tuesday, May 13th.

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.