Savvy Advisors Inc. Purchases New Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Savvy Advisors Inc. acquired a new stake in Nextdoor Holdings, Inc. (NYSE:KIND) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,761 shares of the company’s stock, valued at approximately $61,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Nextdoor by 18.5% in the 1st quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company’s stock valued at $36,442,000 after acquiring an additional 2,529,694 shares during the period. Millennium Management LLC grew its position in shares of Nextdoor by 59.7% in the second quarter. Millennium Management LLC now owns 1,406,953 shares of the company’s stock valued at $3,911,000 after purchasing an additional 526,108 shares during the period. Cornerstone Partners Capital Management LLC purchased a new stake in shares of Nextdoor during the third quarter worth about $791,000. Renaissance Technologies LLC raised its position in shares of Nextdoor by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,814,300 shares of the company’s stock worth $5,044,000 after purchasing an additional 200,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Nextdoor by 172.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,218,808 shares of the company’s stock valued at $3,388,000 after buying an additional 770,858 shares in the last quarter. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley boosted their price objective on Nextdoor from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group increased their price objective on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th.

Nextdoor Trading Down 0.8 %

Shares of KIND opened at $2.49 on Thursday. The firm has a 50-day moving average price of $2.45 and a 200 day moving average price of $2.50. Nextdoor Holdings, Inc. has a 12-month low of $1.32 and a 12-month high of $2.99. The firm has a market capitalization of $945.98 million, a P/E ratio of -7.78 and a beta of 1.08.

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

Insider Activity at Nextdoor

In other news, General Counsel Sophia Schwartz sold 17,529 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total value of $45,224.82. Following the completion of the transaction, the general counsel now owns 304,666 shares of the company’s stock, valued at approximately $786,038.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.