ARK Investment Management LLC Boosts Stock Position in Nextdoor Holdings, Inc. (NYSE:KIND)

ARK Investment Management LLC lifted its stake in Nextdoor Holdings, Inc. (NYSE:KIND) by 56.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,787,494 shares of the company’s stock after acquiring an additional 3,901,481 shares during the period. ARK Investment Management LLC’s holdings in Nextdoor were worth $20,388,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. State Street Corp raised its position in shares of Nextdoor by 1.0% in the 2nd quarter. State Street Corp now owns 331,463 shares of the company’s stock worth $1,097,000 after acquiring an additional 3,394 shares in the last quarter. Quantbot Technologies LP increased its position in Nextdoor by 261.4% during the 1st quarter. Quantbot Technologies LP now owns 4,922 shares of the company’s stock valued at $29,000 after buying an additional 3,560 shares in the last quarter. BlackRock Inc. increased its position in Nextdoor by 0.3% during the 1st quarter. BlackRock Inc. now owns 1,952,593 shares of the company’s stock valued at $4,198,000 after buying an additional 5,941 shares in the last quarter. Jane Street Group LLC increased its position in Nextdoor by 7.9% during the 1st quarter. Jane Street Group LLC now owns 80,962 shares of the company’s stock valued at $174,000 after buying an additional 5,947 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Nextdoor by 23.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 32,324 shares of the company’s stock valued at $61,000 after buying an additional 6,034 shares in the last quarter. 35.66% of the stock is owned by institutional investors.

Nextdoor Price Performance

Shares of KIND stock opened at $2.26 on Thursday. Nextdoor Holdings, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $3.41. The stock’s 50-day simple moving average is $1.90 and its 200-day simple moving average is $1.82.

Nextdoor (NYSE:KIND) last issued its earnings results on Tuesday, February 27th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. Nextdoor had a negative return on equity of 24.22% and a negative net margin of 67.69%. The firm had revenue of $55.56 million for the quarter, compared to the consensus estimate of $50.94 million. As a group, equities analysts predict that Nextdoor Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group increased their price objective on Nextdoor from $1.75 to $2.25 and gave the company a “neutral” rating in a report on Wednesday, February 28th.

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.