Cathie Wood’s Latest Portfolio: 5 New Stock Picks

1. Nextdoor Holdings, Inc. (NYSE:KIND)

ARK Investment Management’s Stake Value: $44.34 million

Percentage of ARK Investment Management’s 13F Portfolio: 0.13%

Number of Hedge Fund Holders: N/A

Nextdoor Holdings, Inc. (NYSE:KIND) was the largest newcomer to Cathie Wood’s portfolio over the fourth quarter, with 5.6 million shares valued at $44.34 million, making up a 0.13% portion of her overall holdings. Nextdoor Holdings, Inc. (NYSE:KIND) is a social network company that allows users within a local neighborhood to interact, and exchange alerts and information.

On November 23, Evercore ISI analyst Mark Mahaney initiated coverage of Nextdoor Holdings, Inc. (NYSE:KIND) with an ‘Outperform’ rating and $16 price target. The analyst called Nextdoor “a true structural winner from the COVID crisis”, and sees the company as having one of the fastest revenue growth outlooks out of all the stocks he covers. Mahaney sees Nextdoor Holdings, Inc.’s (NYSE:KIND) ‘Social-Local’ theme offering a differentiated value proposition for both users and advertisers alike.

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