Sumitomo Mitsui Trust Group Inc. Trims Holdings in Nextdoor Holdings, Inc. (NYSE:KIND)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,907,840 shares of the company's stock after selling 976,921 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 2.33% of Nextdoor worth $21,112,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Cornerstone Partners Capital Management LLC boosted its stake in Nextdoor by 83.9% during the fourth 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 period. R Squared Ltd bought a new stake in Nextdoor during the fourth quarter worth about $45,000. SG Americas Securities LLC lifted its stake in Nextdoor by 51.9% during the fourth quarter. SG Americas Securities LLC now owns 95,537 shares of the company's stock worth $226,000 after purchasing an additional 32,658 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in 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 during the last quarter. Finally, Barclays PLC lifted its stake in Nextdoor by 326.2% during 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. Institutional investors own 35.66% of the company's stock.

Insider Transactions at Nextdoor

In other news, General Counsel Sophia Schwartz sold 16,834 shares of Nextdoor stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $2.45, for a total value of $41,243.30. Following the transaction, the general counsel now owns 215,536 shares in the company, valued at approximately $528,063.20. The trade was a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 20,222 shares of company stock worth $49,679. Company insiders own 46.04% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on KIND shares. Craig Hallum started coverage on Nextdoor in a research note on Thursday, January 30th. They set a "buy" rating and a $4.00 price target for the company. The Goldman Sachs Group lifted their price target on Nextdoor from $2.50 to $3.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th.

Nextdoor Stock Up 0.2 %

Shares of KIND traded up $0.01 during trading hours on Friday, hitting $2.75. The company had a trading volume of 1,831,324 shares, compared to its average volume of 1,330,799. The firm has a market cap of $1.05 billion, a P/E ratio of -8.58 and a beta of 1.07. The stock's 50 day moving average price is $2.51 and its 200 day moving average price is $2.48. Nextdoor Holdings, Inc. has a 52-week low of $1.67 and a 52-week high of $2.99.

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.