NewEdge Advisors LLC Has $825,000 Holdings in Sea Limited Sponsored ADR $SE

Key Points

• NewEdge Advisors cut its SEA position by 87.8% in the second quarter, selling 62,163 shares and retaining 8,614 shares worth approximately $825,000. Institutional investors collectively own 59.53% of the company.
• SEA reported 48.3% year-over-year revenue growth to $7.79 billion, exceeding estimates, but quarterly EPS of $0.70 fell short of the $0.86 consensus. The stock opened at $103.71, compared with a consensus analyst price target of $149.40 and a “Moderate Buy” rating.
• Company insiders have been substantial sellers, including CEO Xiaodong Li’s sale of 1.06 million shares for roughly $137.3 million. Insiders sold about $266.4 million worth of stock over the past 90 days, leaving them with only 0.22% ownership.

NewEdge Advisors LLC lessened its holdings in Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 87.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,614 shares of the Internet company based in Singapore's stock after selling 62,163 shares during the period. NewEdge Advisors LLC's holdings in SEA were worth $825,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Cornerstone Planning Group LLC increased its holdings in 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 purchasing an additional 174 shares in the last quarter. Independence Bank of Kentucky increased its stake in shares of SEA by 611.1% in the second quarter. Independence Bank of Kentucky now owns 1,280 shares of the Internet company based in Singapore's stock valued at $123,000 after buying an additional 1,100 shares during the period. Osbon Capital Management LLC acquired a new position in shares of SEA in the fourth quarter valued at approximately $175,000. HB Wealth Management LLC bought a new position in SEA in the 2nd quarter valued at approximately $203,000. Finally, Rehmann Capital Advisory Group bought a new position in SEA in the 2nd quarter valued at approximately $212,000. Institutional investors and hedge funds own 59.53% of the company's stock.

SEA Price Performance

SEA stock opened at $103.71 on Wednesday. The stock has a market capitalization of $63.37 billion, a price-to-earnings ratio of 40.04, a PEG ratio of 1.03 and a beta of 1.51. Sea Limited Sponsored ADR has a 52-week low of $77.05 and a 52-week high of $193.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.48 and a current ratio of 1.49. The stock's 50 day moving average price is $111.51 and its two-hundred day moving average price is $97.07.

SEA (NYSE:SE - Get Free Report) last issued its 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 net margin of 5.98% and a return on equity of 13.54%. The firm had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business's quarterly revenue was up 48.3% on a year-over-year basis. On average, equities analysts predict that Sea Limited Sponsored ADR will post 2.91 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on SE shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of SEA in a report on Monday, July 20th. Royal Bank Of Canada upgraded SEA from a "sector perform" rating to a "buy" rating in a report on Tuesday, September 8th. Weiss Ratings raised shares of SEA from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Barclays raised their price target on shares of SEA from $122.00 to $156.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. Finally, TD Cowen restated a "hold" rating on shares of SEA in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned 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, SEA presently has an average rating of "Moderate Buy" and a consensus target price of $149.40.

Insider Activity

In related news, CEO Xiaodong Li sold 1,057,650 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $129.80, for a total transaction of $137,282,970.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Gang Ye sold 30,000 shares of SEA stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $129.35, for a total transaction of $3,880,500.00. Following the transaction, the chief operating officer directly owned 430,000 shares in the company, valued at $55,620,500. This represents a 6.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,200,786 shares of company stock worth $266,369,694 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

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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