Sumitomo Mitsui DS Asset Management Company Ltd Sells 2,300 Shares of Sea Limited (NYSE:SE)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in Sea Limited (NYSE:SE) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,345 shares of the Internet company based in Singapore’s stock after selling 2,300 shares during the period. 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 & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. abrdn plc increased its position 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 worth $11,999,000 after buying an additional 2,150 shares during the period. Institute for Wealth Management LLC. increased its position 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 worth $246,000 after buying an additional 679 shares during the period. Ninety One UK Ltd increased its position 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 worth $4,840,000 after buying an additional 98,035 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position 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 worth $3,835,000 after buying an additional 6,100 shares during the period. Finally, Rakuten Securities Inc. bought a new position in SEA in the 4th quarter worth approximately $238,000. 59.53% of the stock is owned by institutional investors.

SEA Trading Up 2.0 %

Shares of SE opened at $63.27 on Thursday. The stock has a fifty day moving average price of $53.44 and a two-hundred day moving average price of $44.79. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.43 and a current ratio of 1.44. Sea Limited has a 52-week low of $34.35 and a 52-week high of $88.39. The company has a market cap of $35.73 billion, a price-to-earnings ratio of 263.63 and a beta of 1.50.

SEA (NYSE:SE) last issued its quarterly earnings data on Monday, March 4th. The Internet company based in Singapore reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.13). SEA had a net margin of 1.27% and a return on equity of 2.54%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts predict that Sea Limited will post 0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on SE shares. Loop Capital raised SEA from a “hold” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $92.00 in a research report on Wednesday. Barclays lifted their price objective on SEA from $59.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Morgan Stanley raised SEA from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $65.00 to $70.00 in a report on Monday. Sanford C. Bernstein lifted their price objective on SEA from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. raised SEA from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $43.00 to $70.00 in a report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

SEA Company 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.