Jane Street Group LLC Sells 252,237 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Jane Street Group LLC cut its stake in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 44.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 318,496 shares of the company's stock after selling 252,237 shares during the quarter. Jane Street Group LLC owned about 0.08% of Nextdoor worth $790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its holdings in Nextdoor by 1.3% in the 3rd quarter. State Street Corp now owns 3,568,959 shares of the company's stock valued at $8,851,000 after purchasing an additional 46,595 shares during the period. Potrero Capital Research LLC boosted its stake in Nextdoor by 29.4% during the third quarter. Potrero Capital Research LLC now owns 2,897,238 shares of the company's stock valued at $7,185,000 after buying an additional 657,492 shares during the period. Renaissance Technologies LLC grew its position in Nextdoor by 12.4% during the second 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 in the last quarter. Marshall Wace LLP bought a new position in Nextdoor in the 2nd quarter worth about $4,327,000. Finally, Millennium Management LLC raised its holdings in shares of Nextdoor by 59.7% in the 2nd quarter. Millennium Management LLC now owns 1,406,953 shares of the company's stock valued at $3,911,000 after acquiring an additional 526,108 shares in the last quarter. 35.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their price objective on shares of Nextdoor from $2.50 to $3.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th.

Nextdoor Stock Up 1.7 %

NYSE:KIND traded up $0.04 during midday trading on Friday, hitting $2.46. The company had a trading volume of 879,593 shares, compared to its average volume of 939,646. The company has a market capitalization of $940.07 million, a PE ratio of -7.69 and a beta of 1.07. Nextdoor Holdings, Inc. has a 52-week low of $1.32 and a 52-week high of $2.99. The stock's fifty day moving average price is $2.48 and its 200-day moving average price is $2.53.

Nextdoor (NYSE:KIND - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $65.61 million during the quarter, compared to analysts' expectations of $62.10 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. During the same period in the prior year, the business earned ($0.10) EPS. As a group, research analysts forecast that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Insiders Place Their Bets

In other Nextdoor news, General Counsel Sophia Schwartz sold 16,834 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.45, for a total transaction of $41,243.30. Following the completion of the sale, the general counsel now directly owns 215,536 shares in the company, valued at $528,063.20. This represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 37,751 shares of company stock valued at $94,904. 46.04% of the stock is currently owned by corporate 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.