Arizona State Retirement System Boosts Stock Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Arizona State Retirement System boosted its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND – Get Rating) by 64.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,991 shares of the company’s stock after acquiring an additional 10,153 shares during the quarter. Arizona State Retirement System’s holdings in Nextdoor were worth $54,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Nextdoor in the 4th quarter worth $25,000. Buckingham Strategic Wealth LLC acquired a new position in shares of Nextdoor during the third quarter valued at approximately $28,000. Quantbot Technologies LP raised its holdings in shares of Nextdoor by 261.4% during the first quarter. Quantbot Technologies LP now owns 4,922 shares of the company’s stock valued at $29,000 after acquiring an additional 3,560 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Nextdoor in the third quarter valued at approximately $31,000. Finally, Freestone Capital Holdings LLC purchased a new position in Nextdoor in the third quarter worth approximately $32,000. 28.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup decreased their target price on Nextdoor from $2.85 to $2.55 and set a “neutral” rating for the company in a report on Thursday, March 2nd.

Nextdoor Stock Up 0.8 %

Shares of Nextdoor stock opened at $2.39 on Friday. Nextdoor Holdings, Inc. has a fifty-two week low of $1.82 and a fifty-two week high of $4.03. The firm has a market cap of $895.25 million, a PE ratio of -6.46 and a beta of 0.47. The business’s fifty day moving average is $2.17 and its two-hundred day moving average is $2.16.

Nextdoor (NYSE:KIND – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $53.27 million during the quarter, compared to the consensus estimate of $50.83 million. Nextdoor had a negative return on equity of 21.91% and a negative net margin of 65.56%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) EPS. Equities research analysts anticipate that Nextdoor Holdings, Inc. will post -0.33 EPS for the current year.

Nextdoor Company Profile

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Nextdoor Holdings, Inc operates as the 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.