SEA (NYSE:SE) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan cut SEA’s price target from $149 to $132 but maintained its Overweight rating, implying 75.84% upside from the prior close.
• Analyst sentiment remains broadly positive: MarketBeat reports a Moderate Buy consensus and an average price target of $133.25.
• SEA’s latest quarter showed mixed results: revenue of $8.58 billion beat estimates and rose 43.7% year over year, while EPS of $0.78 fell short of the $0.99 consensus.

SEA (NYSE:SE - Get Free Report) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $149.00 to $132.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the Internet company based in Singapore's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 75.84% from the stock's previous close.

Several other analysts have also issued reports on the stock. Royal Bank Of Canada upgraded shares of SEA from a "sector perform" rating to a "buy" rating in a research report on Tuesday, September 8th. Barclays cut their price objective on shares of SEA from $156.00 to $150.00 and set an "overweight" rating for the company in a research report on Thursday. Wall Street Zen cut shares of SEA from a "buy" rating to a "hold" rating in a research note on Sunday, November 1st. Bank of America set a $110.00 target price on shares of SEA and gave the company a "buy" rating in a research note on Wednesday. Finally, StoneX decreased their target price on SEA from $175.00 to $155.00 and set a "buy" rating on the stock in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $133.25.

SEA Stock Up 0.7%

SEA stock traded up $0.55 during mid-day trading on Friday, hitting $75.07. 2,860,042 shares of the company's stock were exchanged, compared to its average volume of 5,190,748. SEA has a 1-year low of $71.33 and a 1-year high of $148.26. The stock has a 50 day moving average of $91.74 and a two-hundred day moving average of $96.87. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.07. The stock has a market cap of $45.87 billion, a P/E ratio of 26.96, a P/E/G ratio of 0.76 and a beta of 1.58.

SEA (NYSE:SE - Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The Internet company based in Singapore reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.21). The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.08 billion. SEA had a net margin of 5.89% and a return on equity of 13.85%. The firm's revenue was up 43.7% on a year-over-year basis. During the same quarter last year, the company earned $0.59 earnings per share. As a group, analysts anticipate that SEA will post 2.88 EPS for the current fiscal year.

Insider Activity

In other SEA news, CEO Xiaodong Li sold 57,690 shares of SEA stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $122.28, for a total value of $7,054,333.20. Following the completion of the transaction, the chief executive officer owned 1,232,992 shares in the company, valued at approximately $150,770,261.76. The trade was a 4.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jingye Chen sold 30,000 shares of SEA stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $108.87, for a total value of $3,266,100.00. Following the completion of the transaction, the insider directly owned 270,000 shares of the company's stock, valued at $29,394,900. This represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 787,606 shares of company stock valued at $86,529,397 in the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Institutional Trading of SEA

Large investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System raised its holdings in shares of SEA by 93.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 50,941 shares of the Internet company based in Singapore's stock valued at $4,960,000 after purchasing an additional 24,554 shares during the last quarter. HighVista Strategies LLC acquired a new position in SEA during the third quarter worth $682,000. Xcelsior Advisor Partners LLC bought a new position in SEA in the third quarter valued at $504,000. One Wealth Advisors LLC bought a new position in SEA in the third quarter valued at $304,000. Finally, Benjamin Edwards Inc. grew its position in SEA by 11.4% in the third quarter. Benjamin Edwards Inc. now owns 14,896 shares of the Internet company based in Singapore's stock valued at $1,450,000 after purchasing an additional 1,524 shares in the last quarter. 59.53% of the stock is owned by institutional investors.

About SEA

Sea Limited is a Singapore-based technology company operating digital entertainment, e-commerce and digital financial services businesses. Founded in 2009 as Garena, the company adopted the name Sea Limited in 2017. Its digital entertainment business, Garena, publishes and develops online games and also provides a platform for users to access games and connect with other players. Shopee, Sea's e-commerce platform, serves consumers and merchants in Southeast Asia and other markets, including Taiwan and parts of Latin America.

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