ARK Investment Management LLC Cuts Stake in Sea Limited (NYSE:SE)

ARK Investment Management LLC lowered its position in shares of Sea Limited (NYSE:SE) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 186,548 shares of the Internet company based in Singapore’s stock after selling 3,136 shares during the period. ARK Investment Management LLC’s holdings in SEA were worth $19,793,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rosenberg Matthew Hamilton increased its stake in shares of SEA by 213.7% during the third quarter. Rosenberg Matthew Hamilton now owns 298 shares of the Internet company based in Singapore’s stock valued at $28,000 after buying an additional 203 shares during the period. Kestra Investment Management LLC purchased a new position in shares of SEA during the fourth quarter valued at $34,000. Truvestments Capital LLC bought a new stake in SEA during the third quarter valued at about $41,000. Icon Wealth Advisors LLC bought a new stake in SEA during the third quarter valued at about $47,000. Finally, Geneos Wealth Management Inc. boosted its position in SEA by 4,663.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 524 shares of the Internet company based in Singapore’s stock valued at $56,000 after purchasing an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 59.53% of the company’s stock.

SEA Trading Down 2.7 %

SEA stock opened at $123.80 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.36. Sea Limited has a 52 week low of $44.71 and a 52 week high of $139.18. The company has a market capitalization of $70.86 billion, a price-to-earnings ratio of 825.34 and a beta of 1.55. The stock has a 50-day moving average price of $117.75 and a 200 day moving average price of $103.45.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SE shares. Dbs Bank raised SEA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. TD Cowen raised their price objective on SEA from $69.00 to $100.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Wedbush reaffirmed an “outperform” rating and set a $105.00 price objective (up previously from $84.00) on shares of SEA in a research report on Monday, November 4th. Benchmark raised their price objective on SEA from $94.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Barclays raised their price objective on SEA from $94.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.21.

SEA Company 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.