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

Bond Capital Management LP purchased a new position in Nextdoor Holdings, Inc. (NYSE:NXDR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,398,371 shares of the company’s stock, valued at approximately $2,937,000. Nextdoor comprises 2.9% of Bond Capital Management LP’s investment portfolio, making the stock its 4th largest position. Bond Capital Management LP owned about 0.36% of Nextdoor at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NXDR. Savvy Advisors Inc. purchased a new stake in Nextdoor in the fourth quarter worth about $45,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Nextdoor in the fourth quarter worth about $24,990,000. Westside Investment Management Inc. purchased a new stake in Nextdoor in the fourth quarter worth about $55,000. Farther Finance Advisors LLC purchased a new stake in Nextdoor in the fourth quarter worth about $25,000. Finally, CWM LLC purchased a new stake in Nextdoor in the fourth quarter worth about $272,000. 35.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NXDR has been the subject of a number of research reports. Wall Street Zen raised shares of Nextdoor from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. B. Riley Financial reaffirmed a “neutral” rating on shares of Nextdoor in a research note on Thursday, February 19th. Citigroup lowered 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nextdoor in a research note on Tuesday, April 14th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $2.25 price objective on shares of Nextdoor in a research note on Thursday, May 7th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $2.18.

Nextdoor Trading Up 5.0%

NXDR stock opened at $2.15 on Friday. The stock has a market capitalization of $820.75 million, a price-to-earnings ratio of -19.56 and a beta of 1.38. The firm’s 50-day moving average price is $1.79. Nextdoor Holdings, Inc. has a one year low of $1.33 and a one year high of $3.72.

Nextdoor (NYSE:NXDR) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $61.67 million during 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 expect that Nextdoor Holdings, Inc. will post -0.09 EPS for the current year.

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.