Acadian Asset Management LLC Has $7.29 Million Stock Position 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 increased its position in Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 103.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,770,086 shares of the company's stock after purchasing an additional 2,426,228 shares during the quarter. Acadian Asset Management LLC owned approximately 1.25% of Nextdoor worth $7,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in Nextdoor by 77.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock worth $25,000 after buying an additional 4,514 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Nextdoor during the fourth quarter worth about $27,000. Hurley Capital LLC bought a new position in Nextdoor during the first quarter worth about $38,000. Westside Investment Management Inc. bought a new position in Nextdoor during the first quarter worth about $41,000. Finally, Cerity Partners LLC bought a new position in Nextdoor during the first quarter worth about $45,000. 35.66% of the stock is currently owned by institutional investors and hedge funds.

Nextdoor Price Performance

NYSE:KIND opened at $2.05 on Friday. Nextdoor Holdings, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $3.00. The stock has a market capitalization of $784.31 million, a PE ratio of -8.54 and a beta of 1.19. The business's 50-day simple moving average is $1.90 and its 200-day simple moving average is $1.69.

Wall Street Analysts Forecast Growth

Separately, B. Riley initiated coverage on Nextdoor in a report on Wednesday, June 25th. They set a "neutral" rating and a $2.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Nextdoor currently has an average rating of "Hold" and a consensus target price of $2.21.

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.

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