ARK Investment Management LLC trimmed its holdings in shares of Nextdoor Holdings, Inc. (NYSE:KIND – Free Report) by 19.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,898,861 shares of the company’s stock after selling 1,714,439 shares during the quarter. ARK Investment Management LLC’s holdings in Nextdoor were worth $17,109,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Nextdoor by 18.5% in the first quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company’s stock worth $36,442,000 after buying an additional 2,529,694 shares during the last quarter. Marshall Wace LLP acquired a new position in Nextdoor in the second quarter valued at approximately $4,327,000. Dimensional Fund Advisors LP boosted its position in Nextdoor by 172.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,218,808 shares of the company’s stock worth $3,388,000 after purchasing an additional 770,858 shares in the last quarter. Millennium Management LLC grew its stake in shares of Nextdoor by 59.7% during the 2nd quarter. Millennium Management LLC now owns 1,406,953 shares of the company’s stock worth $3,911,000 after purchasing an additional 526,108 shares during the period. Finally, Cornerstone Partners Capital Management LLC purchased a new position in shares of Nextdoor during the 3rd quarter valued at approximately $791,000. 35.66% of the stock is owned by hedge funds and other institutional investors.
Nextdoor Stock Performance
NYSE:KIND opened at $2.84 on Friday. The stock has a market capitalization of $1.08 billion, a PE ratio of -7.46 and a beta of 1.08. Nextdoor Holdings, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $2.99. The company has a fifty day moving average of $2.44 and a two-hundred day moving average of $2.49.
Insider Activity
In related news, General Counsel Sophia Schwartz sold 17,529 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $2.58, for a total transaction of $45,224.82. Following the completion of the sale, the general counsel now directly owns 304,666 shares of the company’s stock, valued at approximately $786,038.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 46.04% of the company’s stock.
Analyst Upgrades and Downgrades
KIND has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley raised their target price on Nextdoor from $2.20 to $2.50 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd.
Check Out Our Latest Analysis on Nextdoor
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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