ARK Investment Management LLC Lowers Holdings in Sea Limited (NYSE:SE)

ARK Investment Management LLC trimmed its holdings in Sea Limited (NYSE:SE) by 83.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,681 shares of the Internet company based in Singapore’s stock after selling 18,022 shares during the period. ARK Investment Management LLC’s holdings in SEA were worth $149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in SE. Canvas Wealth Advisors LLC lifted its position in shares of SEA by 47.3% in the fourth quarter. Canvas Wealth Advisors LLC now owns 15,197 shares of the Internet company based in Singapore’s stock worth $615,000 after buying an additional 4,878 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in SEA by 12,344.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,655,668 shares of the Internet company based in Singapore’s stock worth $107,555,000 after acquiring an additional 2,634,327 shares during the last quarter. Capricorn Fund Managers Ltd increased its stake in SEA by 37.6% during the fourth quarter. Capricorn Fund Managers Ltd now owns 96,200 shares of the Internet company based in Singapore’s stock worth $3,896,000 after acquiring an additional 26,300 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in SEA by 6.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 253,385 shares of the Internet company based in Singapore’s stock worth $10,262,000 after acquiring an additional 16,169 shares during the last quarter. Finally, DNB Asset Management AS increased its stake in SEA by 5.3% during the fourth quarter. DNB Asset Management AS now owns 51,978 shares of the Internet company based in Singapore’s stock worth $2,105,000 after acquiring an additional 2,638 shares during the last quarter. 59.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. HSBC boosted their price objective on SEA from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Bank of America boosted their price objective on SEA from $46.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. Citigroup raised SEA from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $50.00 in a research note on Thursday, February 1st. Wedbush upped their target price on SEA from $45.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Finally, Barclays upped their target price on SEA from $59.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, SEA has an average rating of “Moderate Buy” and an average price target of $68.29.

SEA Price Performance

Shares of SE opened at $53.59 on Thursday. Sea Limited has a fifty-two week low of $34.35 and a fifty-two week high of $88.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.43 and a current ratio of 1.44. The company has a market capitalization of $30.26 billion, a P/E ratio of 223.27 and a beta of 1.50. The business’s 50-day moving average is $47.71 and its two-hundred day moving average is $42.73.

SEA (NYSE:SE) last posted its quarterly earnings data on Monday, March 4th. The Internet company based in Singapore reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.13). The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. SEA had a return on equity of 2.54% and a net margin of 1.27%. SEA’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. Research analysts predict that Sea Limited will post 1.01 earnings per share for the current year.

SEA Company Profile

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It offers Garena digital entertainment platform for users to access mobile and PC online games, as well as eSports operations.