A Couple ARK exchange-traded funds run by ETF star Cathie Wood bought over 120,000 shares of Sea Ltd. (NYSE: SE) 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 247wallst.com.

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