Acadian Asset Management LLC Grows Holdings in Nextdoor Holdings, Inc. $KIND

Key Points

• Acadian Asset Management LLC has increased its stake in Nextdoor Holdings, Inc. by 103.5%, owning approximately 1.25% of the company, valued at $7.29 million as of its latest SEC filing.
• The stock has seen significant interest from institutional investors, with 35.66% of shares owned by such entities, including notable increases from firms like Tower Research Capital and Wealth Enhancement Advisory Services.
• Nextdoor's current market price is $2.05, with a recent target price from B. Riley set at $2.00, while the average analyst rating for the stock remains at "Hold."

Acadian Asset Management LLC lifted its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 103.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,770,086 shares of the company's stock after buying an additional 2,426,228 shares during the period. Acadian Asset Management LLC owned approximately 1.25% of Nextdoor worth $7,288,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its holdings in Nextdoor by 6.0% during the first quarter. Jane Street Group LLC now owns 382,223 shares of the company's stock worth $585,000 after purchasing an additional 21,754 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Nextdoor during the first quarter worth about $211,000. Jacobs Levy Equity Management Inc. raised its holdings in Nextdoor by 208.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,732,290 shares of the company's stock worth $2,650,000 after purchasing an additional 1,170,606 shares in the last quarter. AQR Capital Management LLC raised its holdings in Nextdoor by 156.0% during the first quarter. AQR Capital Management LLC now owns 1,161,522 shares of the company's stock worth $1,777,000 after purchasing an additional 707,863 shares in the last quarter. Finally, Amundi raised its holdings in Nextdoor by 75.0% during the first quarter. Amundi now owns 174,564 shares of the company's stock worth $251,000 after purchasing an additional 74,829 shares in the last quarter. 35.66% of the stock is owned by hedge funds and other institutional investors.

Nextdoor Stock Performance

NYSE KIND traded up $0.04 during mid-day trading on Thursday, reaching $2.21. 1,978,493 shares of the stock were exchanged, compared to its average volume of 1,839,480. Nextdoor Holdings, Inc. has a 1-year low of $1.32 and a 1-year high of $3.00. The business's fifty day simple moving average is $1.93 and its 200 day simple moving average is $1.68. The stock has a market capitalization of $845.52 million, a PE ratio of -9.21 and a beta of 1.19.

Analysts Set New Price Targets

Separately, B. Riley began coverage on shares of Nextdoor in a report on Wednesday, June 25th. They issued a "neutral" rating and a $2.00 target price for the company. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $2.21.

Nextdoor Company 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.