ARK Investment Management LLC Sells 19,157 Shares of Sea Limited (NYSE:SE)

ARK Investment Management LLC lessened its stake in Sea Limited (NYSE:SE - Free Report) by 9.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 189,684 shares of the Internet company based in Singapore's stock after selling 19,157 shares during the quarter. ARK Investment Management LLC's holdings in SEA were worth $17,883,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SE. Sequoia Financial Advisors LLC lifted its position in shares of SEA by 6.2% during the third quarter. Sequoia Financial Advisors LLC now owns 3,081 shares of the Internet company based in Singapore's stock valued at $290,000 after buying an additional 180 shares during the last quarter. Canton Hathaway LLC grew its stake in shares of SEA by 20.0% during the 2nd quarter. Canton Hathaway LLC now owns 1,200 shares of the Internet company based in Singapore's stock worth $86,000 after purchasing an additional 200 shares during the period. Rosenberg Matthew Hamilton grew its stake in shares of SEA by 213.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 298 shares of the Internet company based in Singapore's stock worth $28,000 after purchasing an additional 203 shares during the period. Gulf International Bank UK Ltd grew its stake in shares of SEA by 0.7% during the 2nd quarter. Gulf International Bank UK Ltd now owns 28,958 shares of the Internet company based in Singapore's stock worth $2,068,000 after purchasing an additional 213 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of SEA by 5.2% during the 2nd quarter. Parallel Advisors LLC now owns 5,063 shares of the Internet company based in Singapore's stock worth $362,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 59.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SE shares. TD Cowen lifted their price target on shares of SEA from $64.00 to $69.00 and gave the company a "hold" rating in a research note on Wednesday, August 14th. Benchmark boosted their price objective on SEA from $87.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Bank of America upped their price target on SEA from $84.00 to $96.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Wedbush reiterated an "outperform" rating and issued a $105.00 price objective (up previously from $84.00) on shares of SEA in a research note on Monday. Finally, JPMorgan Chase & Co. raised SEA from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $66.00 to $90.00 in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.54.

SEA Price Performance

Shares of NYSE:SE traded down $2.19 during midday trading on Friday, reaching $93.53. The company had a trading volume of 4,817,623 shares, compared to its average volume of 5,368,931. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.49 and a quick ratio of 1.48. The business's 50 day moving average price is $91.10 and its 200 day moving average price is $77.68. Sea Limited has a 1-year low of $34.35 and a 1-year high of $101.93.

SEA (NYSE:SE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.45). The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.73 billion. SEA had a negative return on equity of 2.92% and a negative net margin of 1.36%. The company's revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. On average, equities research analysts predict that Sea Limited will post 0.77 EPS for the current year.

About SEA

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.