Sumitomo Mitsui Trust Holdings Inc. Increases Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Nextdoor Holdings, Inc. (NYSE:KIND) by 17.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,640,128 shares of the company’s stock after buying an additional 1,442,973 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 2.50% of Nextdoor worth $18,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Nextdoor by 38.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,138 shares of the company’s stock valued at $178,000 after buying an additional 26,029 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Nextdoor by 24.9% in the fourth quarter. Arizona State Retirement System now owns 39,612 shares of the company’s stock valued at $75,000 after buying an additional 7,896 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Nextdoor by 56.7% in the fourth quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company’s stock valued at $20,388,000 after buying an additional 3,901,481 shares during the last quarter. SG Americas Securities LLC raised its holdings in Nextdoor by 1,753.5% during the fourth quarter. SG Americas Securities LLC now owns 787,271 shares of the company’s stock worth $1,488,000 after purchasing an additional 744,796 shares in the last quarter. Finally, IAM Advisory LLC purchased a new position in Nextdoor during the fourth quarter worth about $32,000. 35.66% of the stock is owned by hedge funds and other institutional investors.

Nextdoor Stock Up 1.5 %

NYSE KIND opened at $2.01 on Tuesday. The stock has a market capitalization of $791.20 million, a P/E ratio of -5.29 and a beta of 0.98. Nextdoor Holdings, Inc. has a 52-week low of $1.32 and a 52-week high of $3.42. The firm has a 50-day moving average price of $2.07 and a 200 day moving average price of $1.84.

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

Analyst Upgrades and Downgrades

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

About Nextdoor

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.