Sei Investments Co. Purchases 312,767 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Sei Investments Co. boosted its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 88.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 666,982 shares of the company's stock after purchasing an additional 312,767 shares during the quarter. Sei Investments Co. owned about 0.17% of Nextdoor worth $1,581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new stake in shares of Nextdoor in the third quarter valued at about $84,000. Charles Schwab Investment Management Inc. boosted its stake in Nextdoor by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,406,161 shares of the company's stock valued at $3,487,000 after purchasing an additional 75,229 shares during the period. FMR LLC boosted its stake in Nextdoor by 1,609.1% during the 3rd quarter. FMR LLC now owns 62,690 shares of the company's stock valued at $155,000 after purchasing an additional 59,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Nextdoor by 6.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 337,561 shares of the company's stock valued at $837,000 after buying an additional 21,405 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in Nextdoor by 142.9% in the 3rd quarter. Verition Fund Management LLC now owns 52,900 shares of the company's stock worth $131,000 after buying an additional 31,121 shares during the period. Institutional investors and hedge funds own 35.66% of the company's stock.

Nextdoor Stock Up 1.5 %

Shares of KIND stock traded up $0.02 during mid-day trading on Friday, reaching $1.49. The stock had a trading volume of 1,871,735 shares, compared to its average volume of 1,760,777. Nextdoor Holdings, Inc. has a one year low of $1.35 and a one year high of $3.00. The firm has a market cap of $576.36 million, a PE ratio of -4.66 and a beta of 1.16. The firm's 50 day simple moving average is $1.97 and its 200 day simple moving average is $2.30.

Nextdoor (NYSE:KIND - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $65.23 million during the quarter, compared to analysts' expectations of $63.12 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. Sell-side analysts forecast that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Activity

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 transaction of $25,800.00. Following the completion of the transaction, the general counsel now owns 267,445 shares in the company, valued at $460,005.40. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 46.04% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KIND. Craig Hallum started coverage on shares of Nextdoor in a research note on Thursday, January 30th. They issued a "buy" rating and a $4.00 price objective on the stock. The Goldman Sachs Group decreased their price target on shares of Nextdoor from $3.00 to $2.50 and set a "neutral" rating on the stock in a research report on Monday, March 3rd.

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.