Creek Drive Management Group LLC Purchases Shares of 1,250,000 Nextdoor Holdings, Inc. $NXDR

Creek Drive Management Group LLC acquired a new stake in shares of Nextdoor Holdings, Inc. (NYSE:NXDR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,250,000 shares of the company’s stock, valued at approximately $2,625,000. Nextdoor makes up about 1.8% of Creek Drive Management Group LLC’s investment portfolio, making the stock its 19th largest position.

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

Nextdoor Stock Down 0.7%

NXDR stock opened at $2.19 on Friday. Nextdoor Holdings, Inc. has a one year low of $1.33 and a one year high of $3.72. The stock has a market capitalization of $833.34 million, a price-to-earnings ratio of -19.86 and a beta of 1.38. The firm’s 50-day moving average price is $1.88.

Nextdoor (NYSE:NXDR) last released its 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. 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, analysts forecast that Nextdoor Holdings, Inc. will post -0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen raised Nextdoor from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nextdoor in a research note on Tuesday, April 14th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $2.25 target price on shares of Nextdoor in a report on Thursday, May 7th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nextdoor currently has a consensus rating of “Reduce” and a consensus target price of $2.17.

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.