ARK Investment Management LLC increased its stake in Nextdoor Holdings, Inc. (NYSE:KIND – Free Report) by 56.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,787,494 shares of the company’s stock after buying an additional 3,901,481 shares during the quarter. ARK Investment Management LLC owned 2.80% of Nextdoor worth $20,388,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in KIND. Envestnet Asset Management Inc. purchased a new position in shares of Nextdoor in the 1st quarter worth about $70,000. Raymond James & Associates raised its stake in Nextdoor by 79.1% in the 1st quarter. Raymond James & Associates now owns 81,309 shares of the company’s stock valued at $487,000 after acquiring an additional 35,900 shares during the period. Bank of New York Mellon Corp raised its stake in Nextdoor by 68.8% in the 1st quarter. Bank of New York Mellon Corp now owns 29,796 shares of the company’s stock valued at $178,000 after acquiring an additional 12,146 shares during the period. BlackRock Inc. raised its stake in Nextdoor by 8.9% in the 1st quarter. BlackRock Inc. now owns 957,620 shares of the company’s stock valued at $5,736,000 after acquiring an additional 78,526 shares during the period. Finally, Vanguard Group Inc. raised its stake in Nextdoor by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,765,561 shares of the company’s stock valued at $22,555,000 after acquiring an additional 17,665 shares during the period. 35.66% of the stock is owned by hedge funds and other institutional investors.
Nextdoor Trading Up 0.9 %
Shares of KIND opened at $2.26 on Thursday. The business’s 50-day moving average price is $1.90 and its 200-day moving average price is $1.82. Nextdoor Holdings, Inc. has a twelve month low of $1.32 and a twelve month high of $3.41.
Analyst Upgrades and Downgrades
Separately, The Goldman Sachs Group boosted their price objective on Nextdoor from $1.75 to $2.25 and gave the company a “neutral” rating in a research note on Wednesday, February 28th.
View Our Latest Research Report on KIND
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.
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