Jacobs Levy Equity Management Inc. Makes New $152,000 Investment in Nextdoor Holdings, Inc. (NYSE:KIND)

Jacobs Levy Equity Management Inc. bought a new position in shares of Nextdoor Holdings, Inc. (NYSE:KIND) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 61,129 shares of the company’s stock, valued at approximately $152,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KIND. The Manufacturers Life Insurance Company grew its position in shares of Nextdoor by 14.2% in the second quarter. The Manufacturers Life Insurance Company now owns 68,852 shares of the company’s stock valued at $191,000 after purchasing an additional 8,546 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Nextdoor by 28.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,779 shares of the company’s stock valued at $99,000 after purchasing an additional 9,689 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Nextdoor in the second quarter valued at approximately $28,000. Ground Swell Capital LLC acquired a new stake in shares of Nextdoor in the second quarter valued at approximately $30,000. Finally, Xponance Inc. acquired a new stake in shares of Nextdoor in the second quarter valued at approximately $31,000. 35.66% of the stock is currently owned by institutional investors and hedge funds.

Nextdoor Stock Performance

Shares of KIND opened at $2.75 on Wednesday. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -8.58 and a beta of 1.07. The company’s 50 day simple moving average is $2.49 and its 200 day simple moving average is $2.53. Nextdoor Holdings, Inc. has a 1 year low of $1.32 and a 1 year high of $2.99.

Nextdoor (NYSE:KIND) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $65.61 million for the quarter, compared to the consensus estimate of $62.10 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Equities analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Nextdoor news, General Counsel Sophia Schwartz sold 16,834 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $2.45, for a total transaction of $41,243.30. Following the transaction, the general counsel now owns 215,536 shares of the company’s stock, valued at $528,063.20. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 36,622 shares of company stock valued at $91,799 over the last quarter. Company insiders own 46.04% of the company’s stock.

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.