On Thursday, Cathie Wood-led Ark Invest made significant trades, with a notable purchase of Figma Inc (NYSE:FIG) shares.
The Figma Trade
ARK Innovation ETF (BATS:ARKK) and ARK Next Generation Internet ETF (BATS:ARKW) acquired a substantial number of Figma shares.
The purchase amounted to 964,342 shares in total, with 823,965 shares bought by ARKK and 140,377 shares by ARKW. At the closing price of $25.86, this acquisition is valued at approximately $24.93 million.
Figma’s stock has been on an upward trajectory, closing with a 6.9% increase on the day. The surge followed the company’s quarterly earnings report, which revealed earnings of eight cents per share, surpassing the Street’s forecast of seven cents. Investors were also encouraged by the company’s expanding partnership with Anthropic, which introduces the “Code to Canvas” feature, enhancing Figma’s design workflow with AI-generated code.
Other Key Trades:
- Klarna Group PLC (KLAR) — ARKF bought 56,507 shares.
- Veeva Systems Inc. (VEEV) — ARKG sold 34,993 shares.
- Draftkings Inc. (DKNG) — ARKK sold 480,919 shares.
- Salesforce Inc. (CRM) — ARKW sold 11,116 shares.
- Pinterest Inc. (PINS) — ARKW – Sold 158,945 shares
Benzinga Edge Stock Rankings indicate Figma stock has a Momentum in the 6th percentile.
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
Photo Courtesy: PJ McDonnell on Shutterstock.com
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