Ameriprise Financial Inc. Acquires 162,600 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Ameriprise Financial Inc. increased its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 956.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,597 shares of the company's stock after buying an additional 162,600 shares during the quarter. Ameriprise Financial Inc.'s holdings in Nextdoor were worth $426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Nextdoor by 51.9% in the 4th quarter. SG Americas Securities LLC now owns 95,537 shares of the company's stock worth $226,000 after acquiring an additional 32,658 shares during the period. Cornerstone Partners Capital Management LLC lifted its position in Nextdoor by 83.9% in the fourth quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company's stock worth $1,390,000 after purchasing an additional 267,527 shares during the period. Asset Management One Co. Ltd. lifted its position in Nextdoor by 103.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 64,803 shares of the company's stock worth $157,000 after purchasing an additional 33,023 shares during the period. Bank of New York Mellon Corp boosted its stake in Nextdoor by 6.9% during the fourth quarter. Bank of New York Mellon Corp now owns 422,076 shares of the company's stock worth $1,000,000 after buying an additional 27,067 shares in the last quarter. Finally, Versor Investments LP bought a new stake in Nextdoor in the 4th quarter valued at $121,000. 35.66% of the stock is currently owned by institutional investors.

Nextdoor Stock Up 0.6%

NYSE:KIND traded up $0.01 during trading hours on Friday, reaching $1.62. The company had a trading volume of 1,502,947 shares, compared to its average volume of 1,809,982. The stock has a 50-day moving average of $1.48 and a two-hundred day moving average of $2.03. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $3.00. The firm has a market capitalization of $619.79 million, a PE ratio of -5.06 and a beta of 1.16.

Nextdoor (NYSE:KIND - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. The company had revenue of $54.18 million for the quarter, compared to the consensus estimate of $53.14 million. As a group, sell-side analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

KIND has been the subject of a number of analyst reports. Morgan Stanley downgraded shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price objective for the company. in a report on Tuesday, May 13th. The Goldman Sachs Group cut their price target on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a research note on Monday, April 14th.

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.