ARK Investment Management LLC Has $13.06 Million Stock Position in Nextdoor Holdings, Inc. $KIND

Key Points

• ARK Investment Management LLC increased its stake in Nextdoor Holdings, Inc. by 21.8%, acquiring an additional 1,407,853 shares during the 2nd quarter, totaling approximately $13.06 million.
• Institutional investors and hedge funds now hold about 35.66% of Nextdoor's stock, indicating increased interest and investment in the company.
• Nextdoor's current stock rating is a "Hold" with an average target price of $2.21, following recent coverage from B. Riley, which assigned a neutral rating with a target price of $2.00.

ARK Investment Management LLC grew its stake in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 21.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,866,867 shares of the company's stock after purchasing an additional 1,407,853 shares during the quarter. ARK Investment Management LLC owned about 2.06% of Nextdoor worth $13,059,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Hurley Capital LLC acquired a new position in shares of Nextdoor during the 1st quarter worth approximately $38,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Nextdoor by 123.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,803 shares of the company's stock worth $39,000 after acquiring an additional 14,251 shares during the last quarter. Westside Investment Management Inc. acquired a new position in shares of Nextdoor during the 1st quarter worth approximately $41,000. Farther Finance Advisors LLC acquired a new position in shares of Nextdoor during the 2nd quarter worth approximately $46,000. Finally, Cerity Partners LLC acquired a new position in shares of Nextdoor during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 35.66% of the company's stock.

Analyst Upgrades and Downgrades

Separately, B. Riley started 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 research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.21.

Nextdoor Price Performance

KIND opened at $2.00 on Wednesday. The business has a fifty day simple moving average of $2.06 and a 200 day simple moving average of $1.76. The company has a market capitalization of $765.18 million, a PE ratio of -8.33 and a beta of 1.19. Nextdoor Holdings, Inc. has a 1 year low of $1.32 and a 1 year high of $3.00.

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.

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