TLDR
- Cathie Wood’s ARK purchased 108,238 Figma shares worth $7.37 million after stock crashed 20% on Q2 earnings miss
- Figma stock down 55.3% from IPO price despite initial 250% debut rally in July 2025
- J.P. Morgan and Wells Fargo analysts maintain Hold ratings with price targets of $65-$70
- Revenue growth continues but shows deceleration as company implements new pricing strategies
- Customer metrics reveal mixed signals with declining net revenue retention and slower paid user growth
Cathie Wood made her move on Figma stock after Wednesday’s brutal 20% selloff. Her ARK funds purchased 108,238 shares for $7.37 million on September 4.
The timing follows Wood’s classic contrarian playbook. She’s buying when others are selling.
Figma’s Q2 earnings disappointed investors across the board. The design platform missed both revenue and profit expectations.
Management’s Q3 guidance also fell short of Wall Street hopes. This created the perfect storm for the stock’s collapse.
Wood isn’t new to Figma. She bought 60,000 shares worth $69.30 million during the July IPO.
That initial investment looked brilliant when shares soared 250% on debut day. The celebration was short-lived.
Figma stock has now surrendered all IPO gains and more. It’s trading 55.3% below the listing price.
Wall Street Remains Skeptical
Analysts aren’t sharing Wood’s enthusiasm. J.P. Morgan’s Mark Murphy kept his Hold rating with a $65 target.
Murphy sees strong revenue growth but worries about the slowdown. New pricing strategies are creating transition challenges.
Wells Fargo analysts echo this cautious stance. They maintained their Hold rating but set a higher $70 price target.
Customer metrics paint a concerning picture. Net revenue retention dropped sequentially in Q2.
The pace of new paid customer additions has also slowed versus last year. These trends worry growth-focused investors.
Wood’s Broader Portfolio Strategy
The Figma purchase wasn’t Wood’s only move yesterday. She bought 131,700 Intellia Therapeutics shares worth $1.5 million.
This gene-editing play fits her biotech investment theme. Wood has been steadily accumulating NTLA shares.
On the selling side, ARK trimmed its Roku position again. The fund sold 26,465 shares for $2.60 million.
This continues Wood’s recent ROKU selling spree. Despite the sales, it remains ARK’s second-largest holding at 5.18%.
ARK also dumped 428,277 Genius Sports shares worth $5.59 million. The sports data company had been performing well recently.
These portfolio moves reflect Wood’s active management approach. She quickly adjusts positions based on conviction changes.
The current analyst consensus on Figma stands at Moderate Hold. Two analysts recommend buying while seven suggest holding.
The average price target of $67.57 suggests 23.9% upside potential from current levels.
