Jacob Asset Management of New York LLC Cuts Stake in Nextdoor Holdings, Inc. (NYSE:KIND)

Jacob Asset Management of New York LLC reduced its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 5.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 725,539 shares of the company’s stock after selling 44,114 shares during the period. Nextdoor accounts for about 2.7% of Jacob Asset Management of New York LLC’s investment portfolio, making the stock its 15th biggest holding. Jacob Asset Management of New York LLC’s holdings in Nextdoor were worth $2,365,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its position in shares of Nextdoor by 261.4% in the 1st quarter. Quantbot Technologies LP now owns 4,922 shares of the company’s stock valued at $29,000 after purchasing an additional 3,560 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Nextdoor in the 4th quarter valued at approximately $30,000. Guggenheim Capital LLC purchased a new stake in shares of Nextdoor in the 3rd quarter valued at approximately $31,000. Ensign Peak Advisors Inc purchased a new stake in shares of Nextdoor in the 3rd quarter valued at approximately $33,000. Finally, MML Investors Services LLC purchased a new stake in shares of Nextdoor in the 3rd quarter valued at approximately $35,000. 25.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KIND has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price objective on shares of Nextdoor from $2.50 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday, November 9th. Morgan Stanley lowered their target price on shares of Nextdoor from $2.40 to $2.20 and set an “equal weight” rating for the company in a report on Wednesday, November 8th. Finally, Evercore ISI cut shares of Nextdoor from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $5.00 to $3.00 in a report on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.75.

Nextdoor Price Performance

Shares of Nextdoor stock traded up $0.10 during trading hours on Friday, hitting $1.65. The company had a trading volume of 1,639,803 shares, compared to its average volume of 1,420,592. The company’s 50-day moving average is $1.81 and its two-hundred day moving average is $2.35. Nextdoor Holdings, Inc. has a twelve month low of $1.32 and a twelve month high of $3.42. The company has a market cap of $628.27 million, a P/E ratio of -4.46 and a beta of 0.83.

Nextdoor Company Profile

Nextdoor Holdings, Inc operates a neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. It enables small and mid-sized businesses, large brands, public agencies, and nonprofits to receive information, give and get help, and build connections with neighborhood stakeholders.