JPMorgan Chase & Co. Purchases 527,226 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

JPMorgan Chase & Co. raised its stake in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 72.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,252,571 shares of the company's stock after acquiring an additional 527,226 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.33% of Nextdoor worth $2,969,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Nextdoor by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company's stock valued at $41,735,000 after acquiring an additional 1,041,258 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Nextdoor in the fourth quarter valued at $763,000. Sei Investments Co. raised its position in Nextdoor by 88.3% during the 4th quarter. Sei Investments Co. now owns 666,982 shares of the company's stock worth $1,581,000 after purchasing an additional 312,767 shares during the last quarter. Cornerstone Partners Capital Management LLC grew its position in shares of Nextdoor by 83.9% in the 4th quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company's stock valued at $1,390,000 after buying an additional 267,527 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Nextdoor by 16.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company's stock worth $3,871,000 after acquiring an additional 227,208 shares during the last quarter. Institutional investors own 35.66% of the company's stock.

Insider Transactions at Nextdoor

In other Nextdoor news, General Counsel Sophia Schwartz sold 15,000 shares of the firm's stock in a transaction 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 transaction, the general counsel now directly owns 267,445 shares in the company, valued at approximately $460,005.40. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 46.04% of the stock is currently owned by insiders.

Nextdoor Price Performance

Shares of Nextdoor stock traded up $0.02 during trading on Friday, reaching $1.50. 1,815,582 shares of the company traded hands, compared to its average volume of 1,793,163. The firm has a market capitalization of $577.52 million, a PE ratio of -4.67 and a beta of 1.16. The company has a 50 day moving average price of $1.72 and a 200-day moving average price of $2.23. Nextdoor Holdings, Inc. has a 1-year low of $1.35 and a 1-year high of $3.00.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a research report on Monday, April 14th. Craig Hallum initiated coverage on shares of Nextdoor in a research report on Thursday, January 30th. They set a "buy" rating and a $4.00 price target on the stock.

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.