Westside Investment Management Inc. Increases Position in Nextdoor Holdings, Inc. (NYSE:KIND)

Westside Investment Management Inc. raised its position in Nextdoor Holdings, Inc. (NYSE:KIND) by 294.3% during the first quarter, HoldingsChannel reports. The firm owned 15,408 shares of the company’s stock after buying an additional 11,500 shares during the quarter. Westside Investment Management Inc.’s holdings in Nextdoor were worth $35,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Nextdoor by 11.3% in 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Nextdoor by 21.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,698,259 shares of the company’s stock valued at $26,321,000 after buying an additional 2,058,131 shares during the last quarter. ARK Investment Management LLC grew its position in shares of Nextdoor by 56.7% in the 4th quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company’s stock valued at $20,388,000 after buying an additional 3,901,481 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in shares of Nextdoor by 17.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 9,640,128 shares of the company’s stock valued at $18,123,000 after buying an additional 1,442,973 shares during the last quarter. Finally, Flight Deck Capital LP grew its position in Nextdoor by 2.2% during the 4th quarter. Flight Deck Capital LP now owns 2,369,607 shares of the company’s stock worth $4,479,000 after purchasing an additional 51,237 shares during the last quarter. 35.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lifted their price objective on shares of Nextdoor from $2.25 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, May 9th.

Nextdoor Stock Performance

NYSE KIND opened at $2.57 on Friday. Nextdoor Holdings, Inc. has a one year low of $1.32 and a one year high of $3.32. The firm’s fifty day moving average is $2.43 and its two-hundred day moving average is $2.10.

Nextdoor (NYSE:KIND) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $53.15 million for the quarter, compared to analyst estimates of $50.90 million. Nextdoor had a negative net margin of 64.19% and a negative return on equity of 23.84%. As a group, research analysts expect that Nextdoor Holdings, Inc. will post -0.24 earnings per share for the current year.

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.