Cathie Wood's Ark Invest has been making strategic moves in its flagship Ark Innovation ETF, with three notable purchases catching investors' attention. Figma leads the recent buys, with Ark purchasing shares for the third time in February. The design-collaboration software company now represents 0.66% of the portfolio, despite being one of only a handful of stocks Ark increased exposure to in the second half of February.

CRISPR Therapeutics represents a more significant commitment, accounting for 6.64% of the fund's total weight as its second-largest holding. The gene-editing specialist's stock was purchased again on February 20, continuing Wood's long-standing support for the biotech company. While CRISPR generated just $3.5 million in revenue last year, its pipeline of gene-editing drug candidates could drive explosive growth if commercialization succeeds.

Figma's recent volatility reflects investor concerns about growth deceleration, though the company still posted 40% year-over-year sales growth in Q4 with a 14% adjusted operating margin. These purchases demonstrate Wood's continued focus on innovative companies with high growth potential, even as performance across Ark's funds has been mixed in recent years.