51,301 Sea Limited Sponsored ADR $SE Shares Sold by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd cut its Sea Limited stake by 34.2% in the third quarter, selling 51,301 shares and retaining 98,899 shares valued at approximately $9.6 million.
• Sea reported quarterly revenue of $7.79 billion, up 48.3% year over year and above estimates, but earnings per share of $0.70 fell short of the $0.86 consensus.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $149.40, while insiders sold more than 2.1 million shares worth about $260.5 million over the past 90 days.

Ninety One UK Ltd reduced its stake in Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 34.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,899 shares of the Internet company based in Singapore's stock after selling 51,301 shares during the quarter. Ninety One UK Ltd's holdings in SEA were worth $9,629,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Grove Bank & Trust raised its stake in shares of SEA by 53.9% during the third quarter. Grove Bank & Trust now owns 614 shares of the Internet company based in Singapore's stock worth $60,000 after purchasing an additional 215 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of SEA by 26.5% during the first quarter. Cornerstone Planning Group LLC now owns 831 shares of the Internet company based in Singapore's stock worth $70,000 after purchasing an additional 174 shares during the period. Independence Bank of Kentucky lifted its holdings in shares of SEA by 611.1% during the second quarter. Independence Bank of Kentucky now owns 1,280 shares of the Internet company based in Singapore's stock worth $123,000 after purchasing an additional 1,100 shares during the period. Osbon Capital Management LLC purchased a new position in SEA in the 4th quarter valued at $175,000. Finally, HB Wealth Management LLC purchased a new position in SEA in the 2nd quarter valued at $203,000. Institutional investors and hedge funds own 59.53% of the company's stock.

SEA Stock Performance

NYSE SE opened at $97.57 on Friday. 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 business's 50 day moving average is $108.11 and its two-hundred day moving average is $98.52. Sea Limited Sponsored ADR has a 12-month low of $77.05 and a 12-month high of $175.80. The stock has a market capitalization of $59.62 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 0.97 and a beta of 1.54.

SEA (NYSE:SE - Get Free Report) last issued its earnings results on Tuesday, August 11th. The Internet company based in Singapore reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.16). The business had revenue of $7.79 billion for the quarter, compared to analysts' expectations of $7.12 billion. SEA had a return on equity of 13.54% and a net margin of 5.98%. The business's quarterly revenue was up 48.3% on a year-over-year basis. During the same period last year, the company posted $0.65 earnings per share. Research analysts expect that Sea Limited Sponsored ADR will post 2.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SE shares. Sanford C. Bernstein reissued an "outperform" rating on shares of SEA in a research note on Monday, July 20th. 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. Benchmark raised their target price on shares of SEA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Morgan Stanley restated an "overweight" rating and issued a $153.00 target price on shares of SEA in a research note on Thursday, August 13th. Finally, Zacks Research raised shares of SEA from a "strong sell" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $149.40.

Insiders Place Their Bets

In other SEA news, CEO Xiaodong Li sold 1,057,650 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $129.80, for a total value of $137,282,970.00. Following the completion of the sale, the chief executive officer owned 288,450 shares of the company's stock, valued at approximately $37,440,810. This trade represents a 78.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gang Ye sold 30,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $129.35, for a total value of $3,880,500.00. Following the completion of the sale, the chief operating officer directly owned 430,000 shares of the company's stock, valued at approximately $55,620,500. This trade represents a 6.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,148,786 shares of company stock worth $260,452,510. Insiders own 0.22% of the company's stock.

SEA Profile

Sea Limited is a Singapore-based technology company that operates digital consumer businesses across Southeast Asia, Taiwan and selected markets in Latin America and other regions. Founded in 2009, the company was formerly known as Garena Interactive Holding Limited and changed its name to Sea Limited in 2017 before completing its initial public offering on the New York Stock Exchange that year.

Sea's principal businesses include Garena, a digital entertainment platform that publishes and develops online games and provides related digital content and services.

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