Key Takeaways
- ARK Invest made only three stock acquisitions last week, focusing on Figma, Arcturus Therapeutics, and 10x Genomics
- On March 20, ARK purchased 337,381 Figma shares worth more than $8.1 million
- The firm divested 45,998 Circle Internet Group shares totaling approximately $5.9 million from ARKK and ARKW funds
- Despite achieving 40% revenue growth last quarter, Figma shares have plummeted 83% from 2025 peak levels
- Additional divestitures last week included positions in Teradyne, Bullish, Guardant Health, and Butterfly Network
Cathie Wood’s ARK Invest exhibited unusually restrained trading activity last week, executing stock purchases in only three companies as equity markets experienced their fourth consecutive week of losses. All three major U.S. stock indices declined during this timeframe.
The minimal buying activity represents a departure from Wood’s typical strategy of increasing acquisitions during market downturns, drawing attention from market observers.
ARK’s investment activity centered on three companies: Figma, Arcturus Therapeutics, and 10x Genomics. Simultaneously, the firm liquidated positions across multiple holdings, most notably Circle Internet Group, a cryptocurrency-adjacent enterprise.
Figma operates as a cloud-native design platform enabling teams to create websites, applications, and digital experiences. On March 20, ARK accumulated 337,381 Figma shares distributed between its ARKK and ARKW exchange-traded funds, representing an investment of $8,171,367.
Shares have cratered 83% from last summer’s high point, following a remarkable surge that saw the stock more than quadruple from its $33 initial public offering price. Notwithstanding this dramatic pullback, Figma delivered 40% year-over-year revenue expansion in its latest quarterly report, an acceleration from the prior quarter’s 38% growth rate.
The company’s net dollar-retention metric reached 136%, indicating that existing clients increased their platform spending by 36% compared to the previous year. This represents the metric’s highest level in a two-year period.
Wall Street forecasters project revenue growth moderating to 30% for the current year and further decelerating to 20% in the following year. The absence of robust profitability has created headwinds for the stock price.
Cryptocurrency-Related Divestiture: Circle Internet
Regarding crypto-linked holdings, ARK offloaded 45,998 Circle Internet Group shares spread across its ARKK and ARKW portfolios, generating proceeds of $5,902,923. The firm had been methodically reducing this position throughout the trading week.
Circle Internet operates within the cryptocurrency infrastructure space and plays a significant role in the USD Coin stablecoin framework.
Additional portfolio reductions included 19,206 Teradyne shares sold for $5,807,894, alongside 103,379 Bullish shares generating $4,093,808, and 9,621 Guardant Health shares for $857,038. The firm also liquidated 182,353 Butterfly Network shares, yielding $723,941.
Biotechnology Investments: Arcturus and 10x Genomics
Arcturus Therapeutics employs messenger RNA platform technology to create therapeutic candidates targeting uncommon respiratory and hepatic conditions. ARK accumulated Arcturus shares on three separate trading sessions last week, with the most recent purchase occurring Friday when the firm acquired 22,773 shares valued at $153,034 through its ARKG biotechnology-focused ETF.
Arcturus has experienced consecutive annual revenue contractions over the past three years, with forecasts indicating further declines extending into 2026. Despite these challenges, the organization recently announced it has secured sufficient capital to fund operations through at least the second quarter of 2028.
10x Genomics develops advanced instrumentation and consumables for life sciences research, including its flagship Chromium system designed for single-cell genomic profiling. Last week, ARK added 192,658 shares across its ARKK and ARKG funds, investing $3,541,054.
The company debuted on public markets at $38 per share and currently trades near half that valuation. Profitability remains elusive, and management’s 2026 outlook suggests revenue will contract when excluding one-time licensing revenues from patent settlement agreements concluded last year.
