Cathie Wood’s ARK Invest Buys Over 120,000 Shares of Sea

By Chris Lange Published Mar 26, 11:05PM EDT

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Cathie Wood’s ARK Invest Buys Over 120,000 Shares of Sea — © NicoElNino / iStock via Getty Images

A Couple ARK exchange-traded funds run by ETF star Cathie Wood bought over 120,000 shares of Sea Ltd. (NYSE: SE | SE Price Prediction) shares on Friday, as the prices of these ETFs gained less than 1% in Friday’s session. These ETFs are up well over 100% in the last year.

ARK Fintech Innovation ETF (NYSEARCA: ARKF) bought 48,220 shares of Sea, while ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought another 80,670 shares. At Friday’s closing price this would have valued this purchase at roughly $30 million. This is only a small fraction of the total holdings. ARKF is up 137% over the past 52 weeks, while ARKW is up about 162%.

24/7 Wall St. recently reported on Sea:

Sea Ltd. (NYSE: SE) reported fiscal fourth-quarter and full-year 2020 results before markets opened Tuesday. For the quarter, the Singapore-based digital services company posted a diluted loss per share of $0.53 on total revenue of $1.57 billion. In the same period a year ago, the company reported a loss per share of $0.87 on total revenue of $777 million. Fourth-quarter results also compare to the consensus estimates for a loss of $0.51 per share and $1.9 billion in revenues.

For the full year, Sea posted a $2.78 loss per share on revenue of $4.38 billion, slightly worse than the consensus estimate for a loss per share of $2.60 on revenue of $5.1 billion.

So why were the shares trading up more than 8% early in the premarket session Tuesday? Investors may have determined that analysts were being a bit too aggressive with their estimates. Sea more than doubled both its quarterly and full-year revenue. Cost of goods sold also doubled, but so did gross profit, from $605 million to $1.35 billion for the full year.

Catherine Wood, the CEO and CIO of ARK Investment Management LLC is a minority and non-voting shareholder of 24/7 Wall St., LLC, owner of a673b.bigscoots-temp.com.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.