Sumitomo Mitsui DS Asset Management Company Ltd Reduces Stock Position in Sea Limited (NYSE:SE)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of Sea Limited (NYSE:SE) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,345 shares of the Internet company based in Singapore’s stock after selling 2,300 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in SEA were worth $1,391,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. abrdn plc grew its holdings in SEA by 0.7% in the 4th quarter. abrdn plc now owns 296,266 shares of the Internet company based in Singapore’s stock valued at $11,999,000 after buying an additional 2,150 shares during the period. Institute for Wealth Management LLC. grew its holdings in SEA by 12.6% in the 4th quarter. Institute for Wealth Management LLC. now owns 6,072 shares of the Internet company based in Singapore’s stock valued at $246,000 after buying an additional 679 shares during the period. Ninety One UK Ltd grew its holdings in SEA by 456.4% in the 4th quarter. Ninety One UK Ltd now owns 119,516 shares of the Internet company based in Singapore’s stock valued at $4,840,000 after buying an additional 98,035 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in SEA by 6.9% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 94,700 shares of the Internet company based in Singapore’s stock valued at $3,835,000 after buying an additional 6,100 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in SEA in the 4th quarter valued at about $238,000. Hedge funds and other institutional investors own 59.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. upgraded SEA from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $43.00 to $70.00 in a report on Tuesday, March 5th. Citigroup upgraded SEA from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $50.00 in a report on Thursday, February 1st. Wedbush increased their target price on shares of SEA from $45.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Daiwa Capital Markets raised shares of SEA from a “neutral” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Bank of America raised shares of SEA from a “neutral” rating to a “buy” rating and increased their target price for the stock from $62.00 to $70.00 in a research report on Monday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

SEA Stock Up 2.0 %

NYSE SE opened at $63.27 on Thursday. The stock has a market cap of $35.73 billion, a PE ratio of 263.63 and a beta of 1.50. Sea Limited has a fifty-two week low of $34.35 and a fifty-two week high of $88.39. The business has a 50 day moving average price of $53.44 and a two-hundred day moving average price of $44.79. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.46.

SEA (NYSE:SE) last released its quarterly earnings results on Monday, March 4th. The Internet company based in Singapore reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. SEA had a return on equity of 2.54% and a net margin of 1.27%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, sell-side analysts predict that Sea Limited will post 0.72 EPS for the current fiscal year.

SEA Profile

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It offers Garena digital entertainment platform for users to access mobile and PC online games, as well as eSports operations.