Amova Asset Management Americas Inc. Makes New $24.87 Million Investment in Nextdoor Holdings, Inc. $NXDR

Amova Asset Management Americas Inc. bought a new position in shares of Nextdoor Holdings, Inc. (NYSE:NXDR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,899,919 shares of the company’s stock, valued at approximately $24,871,000.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC acquired a new stake in shares of Nextdoor in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Nextdoor in the fourth quarter valued at approximately $26,000. HighTower Advisors LLC acquired a new stake in shares of Nextdoor in the fourth quarter valued at approximately $33,000. Krilogy Financial LLC acquired a new stake in Nextdoor during the fourth quarter worth approximately $38,000. Finally, Caz Investments LP acquired a new stake in Nextdoor during the fourth quarter worth approximately $42,000. 35.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NXDR shares. Wall Street Zen upgraded shares of Nextdoor from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. B. Riley Financial restated a “neutral” rating on shares of Nextdoor in a research report on Thursday, February 19th. The Goldman Sachs Group restated a “neutral” rating and set a $2.25 target price on shares of Nextdoor in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Nextdoor in a research report on Tuesday, April 14th. Finally, Citigroup cut their price target on shares of Nextdoor from $2.20 to $2.10 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $2.18.

Nextdoor Stock Performance

Shares of NXDR stock opened at $2.06 on Wednesday. The company has a fifty day simple moving average of $1.76. Nextdoor Holdings, Inc. has a 52 week low of $1.33 and a 52 week high of $3.72. The stock has a market cap of $783.76 million, a P/E ratio of -18.68 and a beta of 1.38.

Nextdoor (NYSE:NXDR) last issued its earnings results on Wednesday, May 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $61.67 million for the quarter. As a group, equities analysts forecast that Nextdoor Holdings, Inc. will post -0.09 earnings per share for the current fiscal 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.