Bond Capital Management LP Takes $2.94 Million Position in Nextdoor Holdings, Inc. $NXDR

Bond Capital Management LP acquired a new stake in shares of Nextdoor Holdings, Inc. (NYSE:NXDR) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,398,371 shares of the company’s stock, valued at approximately $2,937,000. Nextdoor comprises approximately 2.9% of Bond Capital Management LP’s investment portfolio, making the stock its 4th biggest holding.

Several other hedge funds have also recently modified their holdings of the stock. Swiss National Bank acquired a new position in shares of Nextdoor during the fourth quarter valued at about $892,000. Nuveen LLC acquired a new position in shares of Nextdoor during the fourth quarter valued at about $940,000. Xponance LLC acquired a new position in shares of Nextdoor during the fourth quarter valued at about $36,000. ARK Investment Management LLC acquired a new position in shares of Nextdoor during the fourth quarter valued at about $16,335,000. Finally, Deutsche Bank AG acquired a new position in shares of Nextdoor during the fourth quarter valued at about $396,000. Institutional investors and hedge funds own 35.66% of the company’s stock.

Nextdoor Trading Up 5.0%

Shares of NYSE:NXDR opened at $2.15 on Friday. Nextdoor Holdings, Inc. has a twelve month low of $1.33 and a twelve month high of $3.72. The stock has a 50 day simple moving average of $1.79. The firm has a market cap of $820.75 million, a P/E ratio of -19.56 and a beta of 1.38.

Nextdoor (NYSE:NXDR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Nextdoor had a negative net margin of 16.47% and a negative return on equity of 9.22%. The company had revenue of $61.67 million for the quarter. On average, research analysts anticipate that Nextdoor Holdings, Inc. will post -0.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NXDR shares. Citigroup cut their price objective on shares of Nextdoor from $2.20 to $2.10 and set a “neutral” rating on the stock in a report 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 report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Nextdoor in a report on Tuesday, April 14th. B. Riley Financial restated a “neutral” rating on shares of Nextdoor in a report on Thursday, February 19th. Finally, Wall Street Zen upgraded shares of Nextdoor from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Nextdoor currently has a consensus rating of “Reduce” and a consensus price target of $2.18.

About Nextdoor

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.