Nikko Asset Management Americas Inc. Purchases 1,442,973 Shares of Nextdoor Holdings, Inc. (NYSE:KIND)

Nikko Asset Management Americas Inc. raised its position in shares of Nextdoor Holdings, Inc. (NYSE:KIND - Free Report) by 17.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,640,128 shares of the company's stock after purchasing an additional 1,442,973 shares during the quarter. Nikko Asset Management Americas Inc. owned 2.50% of Nextdoor worth $18,123,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KIND. Vanguard Group Inc. grew its holdings in Nextdoor by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,756,262 shares of the company's stock valued at $23,216,000 after buying an additional 1,292,918 shares in the last quarter. Algert Global LLC bought a new position in shares of Nextdoor during the 3rd quarter valued at about $707,000. ARK Investment Management LLC grew its position in shares of Nextdoor by 56.7% during the fourth quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company's stock valued at $20,388,000 after purchasing an additional 3,901,481 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Nextdoor by 1,753.5% in the fourth quarter. SG Americas Securities LLC now owns 787,271 shares of the company's stock worth $1,488,000 after purchasing an additional 744,796 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Nextdoor by 38.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,138 shares of the company's stock worth $178,000 after buying an additional 26,029 shares in the last quarter. 35.66% of the stock is currently owned by institutional investors.

Nextdoor Price Performance

Shares of NYSE:KIND traded up $0.01 during trading on Friday, hitting $2.41. The company had a trading volume of 1,357,788 shares, compared to its average volume of 1,604,731. The stock has a market cap of $948.65 million, a price-to-earnings ratio of -6.69 and a beta of 0.99. The company has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $1.90. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $3.41.

Nextdoor (NYSE:KIND - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. Nextdoor had a negative net margin of 64.19% and a negative return on equity of 23.84%. The company had revenue of $55.56 million during the quarter, compared to analyst estimates of $50.94 million. On average, equities research analysts anticipate that Nextdoor Holdings, Inc. will post -0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upped their price objective on Nextdoor from $2.25 to $2.50 and gave the stock a "neutral" rating in a report on Thursday, May 9th.

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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