1,250,000 Shares in Nextdoor Holdings, Inc. $NXDR Purchased by Creek Drive Management Group LLC

Creek Drive Management Group LLC acquired a new stake in Nextdoor Holdings, Inc. (NYSE:NXDR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,250,000 shares of the company’s stock, valued at approximately $2,625,000. Nextdoor comprises approximately 1.8% of Creek Drive Management Group LLC’s holdings, making the stock its 19th biggest position. Creek Drive Management Group LLC owned approximately 0.32% of Nextdoor at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Amova Asset Management Americas Inc. acquired a new stake in shares of Nextdoor during the 4th quarter valued at approximately $24,871,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Nextdoor during the fourth quarter worth $24,990,000. Ieq Capital LLC bought a new position in shares of Nextdoor in the 4th quarter worth about $19,986,000. ARK Investment Management LLC bought a new position in shares of Nextdoor in the 4th quarter worth about $16,335,000. Finally, Geode Capital Management LLC acquired a new position in shares of Nextdoor in the 4th quarter valued at about $11,083,000. Institutional investors own 35.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NXDR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nextdoor in a research note on Tuesday, April 14th. The Goldman Sachs Group restated a “neutral” rating and issued a $2.25 target price on shares of Nextdoor in a research note on Thursday, May 7th. Finally, Wall Street Zen raised 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Nextdoor has a consensus rating of “Reduce” and a consensus price target of $2.17.

Nextdoor Price Performance

NXDR stock opened at $2.19 on Friday. The stock’s 50-day moving average is $1.88. The company has a market cap of $833.34 million, a P/E ratio of -19.86 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) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business 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, sell-side analysts anticipate that Nextdoor Holdings, Inc. will post -0.09 EPS for the current 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.