ARK Invest bets big on Figma with $8.1M stock purchase amid broader sell-offs
ARK Invest made a bold move last week by purchasing over $8.1 million worth of Figma shares. The investment firm, led by Cathie Wood, also scaled back its positions in several other companies. This shift marks a notable change in strategy for the fund manager.
On March 20, ARK Invest acquired 337,381 shares of Figma, totalling more than $8.1 million. The purchase stands out as Figma's stock has fallen sharply—down 83% from its 2025 high. Despite this decline, the company recently reported a 40% increase in revenue.
At the same time, ARK reduced its stakes in multiple holdings. Teradyne, Bullish, Guardant Health, and Butterfly Network all saw cuts. Another significant divestment came from Circle Internet Group, a cryptocurrency-related firm, where ARK sold 45,998 shares worth around $5.9 million from its ARKK and ARKW funds.
Wood's buying activity last week remained limited. Beyond Figma, she only added shares in two other companies: Arcturus Therapeutics and 10x Genomics. This selective approach contrasts with ARK's broader sell-off in other areas.
The investment in Figma follows Adobe's failed attempt to acquire the design platform for $20 billion in late 2023. That deal collapsed, leaving Figma as an independent company once again.
ARK's latest transactions highlight a focus on Figma despite its steep stock decline. The firm's reduced exposure to other holdings suggests a more cautious approach in recent weeks. With revenue growth still strong at Figma, the move reflects confidence in the company's long-term potential.
