Altshuler Shaham Ltd bought a new position in Nextdoor Holdings, Inc. (NYSE:NXDR – Free Report) in the fourth quarter, HoldingsChannel.com reports. The firm bought 709,841 shares of the company’s stock, valued at approximately $1,491,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Nextdoor during the 4th quarter worth about $24,990,000. Amova Asset Management Americas Inc. acquired a new position in shares of Nextdoor during the 4th quarter worth about $24,871,000. Ieq Capital LLC acquired a new position in shares of Nextdoor during the 4th quarter worth about $19,986,000. ARK Investment Management LLC acquired a new position in shares of Nextdoor during the 4th quarter worth about $16,335,000. Finally, Geode Capital Management LLC acquired a new position in shares of Nextdoor during the 4th quarter worth about $11,083,000. 35.66% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Citigroup reduced their price objective on shares of Nextdoor from $2.20 to $2.10 and set a “neutral” rating for the company in a research note on Friday, February 20th. The Goldman Sachs Group restated a “neutral” rating and set a $2.25 price objective on shares of Nextdoor in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Nextdoor in a research note on Tuesday, April 14th. B. Riley Financial reaffirmed a “neutral” rating on shares of Nextdoor in a report on Thursday, February 19th. Finally, Wall Street Zen raised shares of Nextdoor from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $2.18.
Nextdoor Stock Performance
Shares of NXDR stock opened at $2.17 on Thursday. The firm has a 50-day moving average price of $1.85. The company has a market cap of $825.71 million, a PE ratio of -19.68 and a beta of 1.38. Nextdoor Holdings, Inc. has a 52-week low of $1.33 and a 52-week high of $3.72.
Nextdoor (NYSE:NXDR – Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $61.67 million for the quarter. Nextdoor had a negative net margin of 16.47% and a negative return on equity of 9.22%. As a group, research analysts anticipate that Nextdoor Holdings, Inc. will post -0.09 EPS for the current fiscal year.
Nextdoor Company Profile
Nextdoor Holdings, Inc (NYSE: NXDR) operates Nextdoor, a private social network designed to connect neighbors and local communities. Founded by Nirav Tolia, Sarah Leary, Prakash Janakiraman and David Wiesen, the company is headquartered in San Francisco and provides an app and web platform where residents can share news, recommendations, safety information, items for sale, and local event notices. The platform is built around verified neighborhood groups and identity-confirmation processes intended to foster trust and relevant local conversations.
Nextdoor’s core products center on the consumer-facing Nextdoor app and web experience, supplemented by tools and services for local businesses, public agencies, and advertisers.
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