Nextdoor Holdings, Inc. (NYSE:KIND) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 818.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 561,684 shares of the company's stock after purchasing an additional 500,555 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.15% of Nextdoor worth $1,331,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Nextdoor by 77.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock worth $25,000 after buying an additional 4,514 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of Nextdoor in the fourth quarter worth about $25,000. SVB Wealth LLC bought a new position in Nextdoor during the fourth quarter valued at approximately $27,000. US Bancorp DE purchased a new position in Nextdoor during the 4th quarter valued at approximately $29,000. Finally, Two Sigma Securities LLC bought a new stake in Nextdoor in the 4th quarter worth approximately $34,000. Institutional investors own 35.66% of the company's stock.

Insider Activity 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 shares were sold at an average price of $1.72, for a total transaction of $25,800.00. Following the completion of the sale, the general counsel now owns 267,445 shares of the company's stock, valued at approximately $460,005.40. The trade was a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 46.04% of the stock is owned by company insiders.

Nextdoor Stock Performance

NYSE KIND traded up $0.01 on Tuesday, hitting $1.46. 1,312,095 shares of the stock were exchanged, compared to its average volume of 1,818,947. Nextdoor Holdings, Inc. has a 52-week low of $1.32 and a 52-week high of $3.00. The firm has a market capitalization of $556.67 million, a P/E ratio of -4.55 and a beta of 1.16. The stock has a fifty day moving average price of $1.51 and a two-hundred day moving average price of $2.12.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley lowered shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 target price for the company. in a report on Tuesday, May 13th. Craig Hallum assumed coverage on shares of Nextdoor in a report on Thursday, January 30th. They issued a "buy" rating and a $4.00 target price on the stock. Finally, The Goldman Sachs Group lowered their price target on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Monday, April 14th.

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.