Charles Schwab Investment Management Inc. Grows Stock Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

Charles Schwab Investment Management Inc. grew its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,633,369 shares of the company’s stock after acquiring an additional 227,208 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Nextdoor were worth $3,871,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. US Bancorp DE acquired a new position in shares of Nextdoor during the 4th quarter worth approximately $29,000. SVB Wealth LLC acquired a new position in shares of Nextdoor in the 4th quarter valued at about $27,000. Versor Investments LP acquired a new position in shares of Nextdoor during the 4th quarter valued at $121,000. Bank of New York Mellon Corp boosted its position in shares of Nextdoor by 6.9% in the fourth quarter. Bank of New York Mellon Corp now owns 422,076 shares of the company’s stock worth $1,000,000 after buying an additional 27,067 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in Nextdoor by 103.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 64,803 shares of the company’s stock worth $157,000 after buying an additional 33,023 shares during the period. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Nextdoor Price Performance

KIND stock opened at $1.67 on Thursday. The company’s 50 day simple moving average is $2.27 and its 200-day simple moving average is $2.39. Nextdoor Holdings, Inc. has a 52-week low of $1.60 and a 52-week high of $3.00. The firm has a market capitalization of $643.19 million, a P/E ratio of -5.20 and a beta of 1.14.

Nextdoor (NYSE:KIND) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. The firm had revenue of $65.23 million for the quarter, compared to the consensus estimate of $63.12 million. Sell-side analysts predict that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Insider Transactions at Nextdoor

In other Nextdoor 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 46.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

KIND has been the subject of several research analyst reports. 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 target price on the stock. The Goldman Sachs Group cut their target price on Nextdoor from $3.00 to $2.50 and set a “neutral” rating for the company in a research report on Monday, March 3rd.

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.