The cluster of open-market sales by two senior executives (President of Garena and CCO/GC) without 10b5-1 plans is a bearish signal. Monitor for additional insider selling or any material adverse developments in Sea's gaming (Garena) or e-commerce (Shopee) segments that could explain the timing.
Price Chart
Executive Summary
Two Sea Ltd insiders—President of Garena Zhao Feng and CCO/GC Wang Yanjun—sold a combined $742K in open-market sales over a one-week window. Zhao Feng's $717K sale is the dominant transaction, representing approximately 0.23% of Sea Ltd's market cap (estimated at ~$320B based on ~3.3B shares outstanding at ~$97). The sales are not plan-driven (no 10b5-1 indication) and occur at elevated prices near the stock's recent highs, suggesting potential profit-taking or bearish conviction.
Key Financial Metrics
Key Facts
- Zhao Feng (President of Garena) sold 7,500 shares at $96.04 for $717,000 on 2026-10-01
- Wang Yanjun (CCO and GC) sold 1,000 shares total across four trades at $94.38–$98.88 for $196,106 on 2026-09-29/30
- Total insider sales: $742,000 over a 7-day window
- No 10b5-1 trading plan indicated for any sale
- Sales represent ~0.23% of Sea Ltd's estimated market cap
Financial Impact
Total insider sales of $742K represent ~0.23% of market cap—modest but notable for a C-suite cluster without plan protection
Risk Factors
- Insider sales may reflect concerns about Sea Ltd's growth trajectory or competitive pressures in Southeast Asian e-commerce
- Sales by the President of Garena specifically could signal headwinds in the gaming division (Free Fire, etc.)
- Stock near recent highs—profit-taking could precede a pullback
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-SE-1791196169819 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | Insider Cluster | $72.59 | awaiting T+5 | — | $74.73 (+2.95%) |
Oct 23, 2026 4d ago | Insider Cluster | $74.63 | awaiting T+5 | — | $74.73 (+0.13%) |
Oct 21, 2026 6d ago | SC 13G/A | $77.94 | awaiting T+5 | — | $74.73 (−4.12%) |
Oct 21, 2026 6d ago | Insider Cluster | $77.94 | awaiting T+5 | — | $74.73 (−4.12%) |
Oct 20, 2026 7d ago | 6-K | $80.43 $74.75 | ▼ −7.06% | ▼ −7.09% | $74.73 (−7.09%) |
Oct 16, 2026 11d ago | Institutional Cluster | $88.47 $73.82 | ▼ −16.56% | ▼ −16.41% | $74.73 (−15.53%) |
Oct 5, 2026 22d ago | Insider Cluster | $96.85 $95.88 | ▲ +1.00% | ▲ +1.42% | $74.73 (+22.84%) |
Oct 1, 2026 26d ago | Insider Cluster | $95.27 $92.89 | ▲ +2.50% | ▲ +3.80% | $74.73 (+21.56%) |
Sep 29, 2026 28d ago | Insider Cluster | $98.62 $96.53 | ▼ −2.12% | ▼ −4.07% | $74.73 (−24.22%) |
Sep 25, 2026 4w ago | Insider Cluster | $99.55 $95.19 | ▲ +4.38% | ▲ +4.16% | $74.73 (+24.93%) |
US Market Status
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