Charles Schwab Investment Management Inc. Purchases 227,208 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Charles Schwab Investment Management Inc. raised its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 16.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,633,369 shares of the company's stock after buying an additional 227,208 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.43% of Nextdoor worth $3,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cornerstone Partners Capital Management LLC grew its position in Nextdoor by 83.9% during the fourth quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company's stock worth $1,390,000 after buying an additional 267,527 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Nextdoor by 62.2% during the third quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company's stock worth $1,799,000 after purchasing an additional 278,185 shares in the last quarter. Barclays PLC increased its position in shares of Nextdoor by 326.2% in the third quarter. Barclays PLC now owns 267,490 shares of the company's stock worth $663,000 after purchasing an additional 204,729 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Nextdoor by 261.8% in the third quarter. Dynamic Technology Lab Private Ltd now owns 69,474 shares of the company's stock valued at $172,000 after purchasing an additional 50,273 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Nextdoor by 5.3% during the third quarter. Geode Capital Management LLC now owns 4,042,728 shares of the company's stock valued at $10,028,000 after purchasing an additional 205,015 shares during the last quarter. 35.66% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.72, for a total value of $25,800.00. Following the sale, the general counsel now owns 267,445 shares in the company, valued at $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 available at this link. 46.04% of the stock is owned by insiders.

Analysts Set New Price Targets

KIND has been the topic of a number of research analyst reports. 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 report on Monday, March 3rd. Craig Hallum assumed coverage on Nextdoor in a research note on Thursday, January 30th. They issued a "buy" rating and a $4.00 target price on the stock.

Nextdoor Price Performance

Nextdoor stock traded down $0.08 during trading hours on Friday, reaching $1.56. The company had a trading volume of 1,425,161 shares, compared to its average volume of 1,715,142. The firm has a market cap of $600.70 million, a price-to-earnings ratio of -4.86 and a beta of 1.14. Nextdoor Holdings, Inc. has a 12-month low of $1.55 and a 12-month high of $3.00. The company has a 50-day moving average price of $2.22 and a 200 day moving average price of $2.38.

Nextdoor (NYSE:KIND - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. The business had revenue of $65.23 million during the quarter, compared to analysts' expectations of $63.12 million. As a group, research analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

About Nextdoor

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.