ARK Investment Management LLC Sells 18,151 Shares of Sea Limited Sponsored ADR (NYSE:SE)

Key Points

• ARK Investment Management LLC reduced its stake in Sea Limited by 9.7%, selling 18,151 shares and holding 168,397 shares worth approximately $21.97 million.
• Several hedge funds have significantly increased their holdings in Sea Limited, with OVERSEA CHINESE BANKING Corp Ltd raising its position by 2,082.7% during the first quarter.
• Sea Limited's quarterly earnings report showed an EPS of $0.65, which fell short of analysts’ estimates of $0.93, despite a 29.6% year-over-year revenue increase to $4.84 billion.

ARK Investment Management LLC lowered its stake in Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 9.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 168,397 shares of the Internet company based in Singapore's stock after selling 18,151 shares during the period. ARK Investment Management LLC's holdings in SEA were worth $21,974,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SE. OVERSEA CHINESE BANKING Corp Ltd grew its position in SEA by 2,082.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 28,766,718 shares of the Internet company based in Singapore's stock valued at $3,753,769,000 after acquiring an additional 27,448,779 shares during the last quarter. Capital Research Global Investors grew its position in SEA by 19.5% in the fourth quarter. Capital Research Global Investors now owns 8,126,064 shares of the Internet company based in Singapore's stock valued at $862,175,000 after acquiring an additional 1,325,183 shares during the last quarter. Geode Capital Management LLC grew its position in SEA by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 3,201,601 shares of the Internet company based in Singapore's stock valued at $335,084,000 after acquiring an additional 142,080 shares during the last quarter. Northern Trust Corp grew its position in SEA by 12.6% in the fourth quarter. Northern Trust Corp now owns 2,946,347 shares of the Internet company based in Singapore's stock valued at $312,607,000 after acquiring an additional 329,881 shares during the last quarter. Finally, FIL Ltd grew its position in SEA by 46.9% in the fourth quarter. FIL Ltd now owns 2,631,081 shares of the Internet company based in Singapore's stock valued at $279,158,000 after acquiring an additional 840,550 shares during the last quarter. Institutional investors own 59.53% of the company's stock.

SEA Price Performance

SEA stock opened at $157.74 on Friday. The stock's 50 day moving average is $158.34 and its 200 day moving average is $137.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.49. The firm has a market cap of $92.92 billion, a P/E ratio of 111.08 and a beta of 1.60. Sea Limited Sponsored ADR has a one year low of $55.00 and a one year high of $172.65.

SEA (NYSE:SE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The Internet company based in Singapore reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.28). The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.90 billion. SEA had a return on equity of 10.74% and a net margin of 4.87%. SEA's revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. As a group, research analysts expect that Sea Limited Sponsored ADR will post 0.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SE shares. Loop Capital reissued a "buy" rating and set a $190.00 price target (up from $165.00) on shares of SEA in a research note on Thursday, May 29th. Bank of America lowered SEA from a "buy" rating to a "neutral" rating and set a $160.00 price target on the stock. in a research note on Friday, May 9th. Sanford C. Bernstein reissued an "outperform" rating and set a $170.00 price target on shares of SEA in a research note on Wednesday, May 14th. Wedbush reissued an "outperform" rating on shares of SEA in a research note on Wednesday, May 14th. Finally, Benchmark lifted their price target on SEA from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.82.

SEA Profile

Sea Ltd. is an internet and mobile platform company, which engages in the provision of online gaming services. It operates through the following segments: Digital Entertainment, E-Commerce, and Digital Financial Services. The Digital Entertainment segment offers and develops mobile and PC online games.

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