Baird Financial Group Inc. Buys 50,965 Shares of Sea Limited Sponsored ADR $SE

Key Points

• Baird Financial Group increased its SEA stake by 6.2% in the second quarter, purchasing 50,965 additional shares and bringing its holdings to 879,107 shares valued at approximately $84.2 million. Institutional investors collectively own 59.53% of the company.
• SEA reported quarterly revenue of $7.79 billion, up 48.3% year over year and above estimates, but earnings per share of $0.70 missed the $0.86 consensus forecast.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $149.40; however, insiders sold nearly 2 million shares worth $242.6 million over the past three months.

Baird Financial Group Inc. raised its stake in Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 879,107 shares of the Internet company based in Singapore's stock after buying an additional 50,965 shares during the period. Baird Financial Group Inc. owned about 0.14% of SEA worth $84,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT grew its stake in SEA by 539.6% in the fourth quarter. Zions Bancorporation National Association UT now owns 307 shares of the Internet company based in Singapore's stock worth $39,000 after purchasing an additional 259 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of SEA by 26.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 831 shares of the Internet company based in Singapore's stock worth $70,000 after buying an additional 174 shares during the period. Independence Bank of Kentucky lifted its holdings in shares of SEA by 611.1% in the 2nd quarter. Independence Bank of Kentucky now owns 1,280 shares of the Internet company based in Singapore's stock worth $123,000 after buying an additional 1,100 shares during the period. Cullen Frost Bankers Inc. grew its position in shares of SEA by 102.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,132 shares of the Internet company based in Singapore's stock worth $144,000 after buying an additional 573 shares in the last quarter. Finally, Osbon Capital Management LLC bought a new position in shares of SEA during the 4th quarter worth $175,000. 59.53% of the stock is currently owned by institutional investors.

SEA Trading Up 1.2%

Shares of NYSE:SE opened at $113.48 on Wednesday. Sea Limited Sponsored ADR has a 12-month low of $77.05 and a 12-month high of $199.30. The business's fifty day simple moving average is $111.85 and its 200-day simple moving average is $97.11. The company has a market capitalization of $69.34 billion, a PE ratio of 43.82, a P/E/G ratio of 1.12 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.07.

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

Insider Buying and Selling

In related news, COO Gang Ye sold 30,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $129.35, for a total transaction of $3,880,500.00. Following the sale, the chief operating officer directly owned 430,000 shares of the company's stock, valued at approximately $55,620,500. This represents a 6.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Xiaodong Li sold 1,057,650 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $129.80, for a total transaction of $137,282,970.00. Following the sale, the chief executive officer owned 288,450 shares in the company, valued at approximately $37,440,810. This represents a 78.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,986,366 shares of company stock valued at $242,587,076 over the last three months. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on SE shares. Barclays lifted their price objective on SEA from $122.00 to $156.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Morgan Stanley reiterated an "overweight" rating and set a $153.00 target price on shares of SEA in a report on Thursday, August 13th. Zacks Research downgraded shares of SEA from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Arete Research set a $152.00 price target on shares of SEA and gave the company a "buy" rating in a report on Monday. Finally, Royal Bank Of Canada upgraded shares of SEA from a "sector perform" rating to a "buy" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $149.40.

About SEA

Sea Limited NYSE: SE is a Singapore-based global consumer internet company that develops and operates digital services across entertainment, e-commerce and financial technology. Founded in 2009 as Garena, the company adopted the Sea name in 2017 as it expanded beyond online gaming.

Garena, Sea's digital entertainment business, publishes and develops online games, including the widely distributed mobile battle royale title Free Fire. Garena also provides an online platform for game-related content and community activities.

Shopee operates an e-commerce marketplace that connects consumers, sellers and brands.

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