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

Arizona State Retirement System lifted its stake in Nextdoor Holdings, Inc. (NYSE:KIND) by 24.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,612 shares of the company’s stock after buying an additional 7,896 shares during the period. Arizona State Retirement System’s holdings in Nextdoor were worth $75,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KIND. ARK Investment Management LLC grew its holdings in shares of Nextdoor by 56.7% during the fourth quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company’s stock worth $20,388,000 after purchasing an additional 3,901,481 shares during the last quarter. SG Americas Securities LLC grew its stake in Nextdoor by 1,753.5% during the 4th quarter. SG Americas Securities LLC now owns 787,271 shares of the company’s stock worth $1,488,000 after buying an additional 744,796 shares during the last quarter. IAM Advisory LLC acquired a new position in Nextdoor during the fourth quarter worth approximately $32,000. Harbor Capital Advisors Inc. lifted its stake in Nextdoor by 23.0% in the fourth 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 during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Nextdoor by 11.3% in the third quarter. Vanguard Group Inc. now owns 12,756,262 shares of the company’s stock valued at $23,216,000 after acquiring an additional 1,292,918 shares during the period. 35.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Nextdoor Stock Up 1.5 %

Shares of KIND stock opened at $2.01 on Tuesday. Nextdoor Holdings, Inc. has a 52-week low of $1.32 and a 52-week high of $3.42. The stock’s 50-day moving average price is $2.07 and its 200 day moving average price is $1.84. The stock has a market capitalization of $791.20 million, a PE ratio of -5.29 and a beta of 0.98.

Nextdoor (NYSE:KIND) last released its earnings results on Tuesday, February 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating 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 business had revenue of $55.56 million for the quarter, compared to analyst estimates of $50.94 million. Analysts expect that Nextdoor Holdings, Inc. will post -0.27 earnings per share for the current fiscal 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.