The Manufacturers Life Insurance Company Acquires 8,546 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

The Manufacturers Life Insurance Company lifted its stake in Nextdoor Holdings, Inc. (NYSE:KIND) by 14.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,852 shares of the company’s stock after buying an additional 8,546 shares during the period. The Manufacturers Life Insurance Company’s holdings in Nextdoor were worth $191,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Nextdoor by 18.5% during the first quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company’s stock worth $36,442,000 after purchasing an additional 2,529,694 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Nextdoor by 21.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,698,259 shares of the company’s stock worth $26,321,000 after buying an additional 2,058,131 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of Nextdoor by 21.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,698,259 shares of the company’s stock worth $26,321,000 after buying an additional 2,058,131 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Nextdoor by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,814,300 shares of the company’s stock worth $5,044,000 after buying an additional 200,500 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Nextdoor in the second quarter valued at about $4,327,000. Institutional investors and hedge funds own 35.66% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley lifted their price target on shares of Nextdoor from $2.20 to $2.50 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd.

Nextdoor Stock Performance

Shares of KIND opened at $2.51 on Friday. The firm has a market cap of $979.61 million, a PE ratio of -6.97 and a beta of 1.08. Nextdoor Holdings, Inc. has a 52-week low of $1.32 and a 52-week high of $2.99. The business’s 50 day moving average price is $2.45 and its two-hundred day moving average price is $2.45.

Nextdoor (NYSE:KIND) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Nextdoor had a negative return on equity of 22.69% and a negative net margin of 65.63%. The firm had revenue of $63.29 million during the quarter, compared to analysts’ expectations of $58.80 million. Research analysts predict that Nextdoor Holdings, Inc. will post -0.23 EPS for the current fiscal year.

Insider Activity at Nextdoor

In other Nextdoor news, General Counsel Sophia Schwartz sold 17,529 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total value of $45,224.82. Following the transaction, the general counsel now directly owns 304,666 shares in the company, valued at $786,038.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 46.04% of the stock is currently owned by company 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.