5 Best Stocks to Invest Your $1000

4. Sea Limited (NYSE: SE)

Number of Hedge Fund Holders: 98

Singapore-based Sea Ltd has been gaining a lot of attention lately as its operates in businesses with explosive growth potential: ecommerce, video games and digital payments. BofA recently upgraded the stock to Buy from Neutral and upped its price target to $340 from $260, citing strengths in Shopee, Sea’s ecommerce business.

Notable hedge funds having stakes in the company include Cathie Wood’s ARK, which owns 3.2 million shares in the company, worth $708 million.

Cathie Wood of ARK Investment Management

Our calculations show that Sea Limited (NYSE: SE) ranks 22nd in our list of the 30 Most Popular Stocks Among Hedge Funds.

ClearBridge Investments, highlighted a few stocks in its Q1 2021 investor letter, and Sea Ltd (NYSE:SE) is one of them. Here is what the fund said:

“Singapore-based Sea maintains leading positions in Southeast Asia in video games and e-commerce and operates an emerging digital payments and banking business. While the company is investing heavily into e-commerce and payments, this growth is being funded by its highly profitable gaming segment. We see a long runway for growth across Sea’s businesses with multiple opportunities like e-commerce expansion in Latin America not fully factored into the valuation today. The company also has a well-respected management team that has successfully executed in expanding its total addressable market. Along with existing holding Alibaba, Sea provides exposure to secular growth trends in emerging markets that are harder to replicate through U.S. stocks.”