Principal Financial Group Inc. Sells 4,981 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Principal Financial Group Inc. lowered its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND) by 29.1% during the third quarter, Holdings Channel.com reports. The firm owned 12,122 shares of the company’s stock after selling 4,981 shares during the quarter. Principal Financial Group Inc.’s holdings in Nextdoor were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in KIND. Vanguard Group Inc. grew its holdings 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 buying an additional 2,529,694 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Nextdoor by 12.4% in the second quarter. Renaissance Technologies LLC now owns 1,814,300 shares of the company’s stock valued at $5,044,000 after acquiring an additional 200,500 shares in the last quarter. Marshall Wace LLP bought a new position in Nextdoor during the second quarter worth about $4,327,000. Millennium Management LLC increased its position in Nextdoor by 59.7% during the second quarter. Millennium Management LLC now owns 1,406,953 shares of the company’s stock worth $3,911,000 after acquiring an additional 526,108 shares during the period. Finally, Dimensional Fund Advisors LP raised 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 worth $3,388,000 after purchasing an additional 770,858 shares in the last quarter. 35.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nextdoor

In related news, General Counsel Sophia Schwartz sold 17,529 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total transaction of $45,224.82. Following the sale, the general counsel now owns 304,666 shares in the company, valued at approximately $786,038.28. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 46.04% of the company’s stock.

Analyst Ratings Changes

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

Nextdoor Price Performance

Shares of NYSE KIND opened at $2.48 on Wednesday. The business has a fifty day moving average price of $2.48 and a two-hundred day moving average price of $2.52. The stock has a market capitalization of $945.80 million, a PE ratio of -7.84 and a beta of 1.08. Nextdoor Holdings, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $2.99.

Nextdoor (NYSE:KIND) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter last year, the business earned ($0.10) earnings per share. On average, equities analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

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.