Nuveen LLC Takes Position in Nextdoor Holdings, Inc. $KIND

Key Points

• Nuveen LLC acquired 445,130 shares of Nextdoor Holdings, Inc. (KIND) valued at about $681,000, marking its initial stake in the company.
• Institutional investors, including Vanguard Group Inc. and Millennium Management LLC, have significantly increased their holdings in Nextdoor during the past quarters.
• Nextdoor's stock is currently trading at $2.01, with a target price set by analysts averaging around $2.21, while some have issued lower price forecasts.

Nuveen LLC acquired a new position in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 445,130 shares of the company's stock, valued at approximately $681,000. Nuveen LLC owned about 0.12% of Nextdoor at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in KIND. Millennium Management LLC lifted its stake in Nextdoor by 177.6% in the fourth quarter. Millennium Management LLC now owns 2,999,267 shares of the company's stock valued at $7,108,000 after buying an additional 1,918,884 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in Nextdoor by 193.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,082,482 shares of the company's stock valued at $4,935,000 after purchasing an additional 1,371,705 shares during the period. CenterBook Partners LP grew its position in Nextdoor by 141.9% in the first quarter. CenterBook Partners LP now owns 1,307,882 shares of the company's stock worth $2,001,000 after acquiring an additional 767,184 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Nextdoor by 33.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,016,850 shares of the company's stock worth $7,150,000 after purchasing an additional 762,005 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Nextdoor by 4.2% in the first quarter. Vanguard Group Inc. now owns 18,352,384 shares of the company's stock worth $28,079,000 after purchasing an additional 742,578 shares during the last quarter. 35.66% of the stock is owned by institutional investors.

Nextdoor Price Performance

KIND traded up $0.02 during midday trading on Monday, hitting $2.07. 4,680,006 shares of the company's stock traded hands, compared to its average volume of 1,839,480. The stock's fifty day simple moving average is $1.86 and its 200-day simple moving average is $1.69. The company has a market cap of $791.96 million, a PE ratio of -8.63 and a beta of 1.19. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $3.00.

Analyst Ratings Changes

Several analysts have recently commented on the stock. B. Riley assumed coverage on shares of Nextdoor in a research report on Wednesday, June 25th. They set a "neutral" rating and a $2.00 price objective on the stock. Morgan Stanley lowered shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price objective on the stock. in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company 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.