ARK Investment Management LLC Has $17.88 Million Position in Sea Limited (NYSE:SE)

ARK Investment Management LLC cut its holdings in shares of Sea Limited (NYSE:SE) by 9.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,684 shares of the Internet company based in Singapore’s stock after selling 19,157 shares during the period. ARK Investment Management LLC’s holdings in SEA were worth $17,883,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Kaizen Investment Management Pte. Ltd. acquired a new stake in SEA during the 3rd quarter valued at approximately $587,544,000. Eminence Capital LP raised its stake in SEA by 45.2% during the second quarter. Eminence Capital LP now owns 4,522,441 shares of the Internet company based in Singapore’s stock worth $322,993,000 after buying an additional 1,408,314 shares during the last quarter. Clearbridge Investments LLC acquired a new position in SEA in the second quarter valued at $99,989,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in SEA during the first quarter valued at $60,171,000. Finally, Los Angeles Capital Management LLC grew its holdings in SEA by 10,373.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,035,722 shares of the Internet company based in Singapore’s stock worth $73,971,000 after acquiring an additional 1,025,833 shares during the period. 59.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SE. Barclays boosted their price objective on SEA from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Bank of America lifted their price objective on shares of SEA from $84.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised shares of SEA from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $66.00 to $90.00 in a research note on Wednesday, August 14th. Citigroup cut their price objective on shares of SEA from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $105.00 price target (up from $84.00) on shares of SEA in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.54.

SEA Trading Up 0.4 %

NYSE SE opened at $95.71 on Friday. The business’s fifty day moving average is $91.10 and its 200-day moving average is $77.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.49 and a quick ratio of 1.48. Sea Limited has a one year low of $34.35 and a one year high of $101.93. The stock has a market capitalization of $54.78 billion, a price-to-earnings ratio of -273.46 and a beta of 1.52.

SEA (NYSE:SE) last issued its earnings results on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.45). The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. SEA had a negative net margin of 1.36% and a negative return on equity of 2.92%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Equities research analysts predict that Sea Limited will post 0.64 EPS 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 promotes eSports operations.