Orbis Allan Gray Ltd Sells 177,586 Shares of Sea Limited Sponsored ADR $SE

Key Points

• Orbis Allan Gray Ltd reduced its stake in Sea Limited by 17.6%, selling 177,586 shares, while still holding approximately 0.14% of the company valued at $108.17 million.
• Sea Limited reported quarterly earnings of $0.65 per share, below expectations, but achieved revenue of $5.26 billion, exceeding analyst forecasts by 38.2% year-over-year.
• Wall Street analysts have generally positive outlooks on SEA, with several upgrades and a consensus average price target of $173.49.

Orbis Allan Gray Ltd lowered its stake in Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 828,958 shares of the Internet company based in Singapore's stock after selling 177,586 shares during the quarter. Orbis Allan Gray Ltd owned about 0.14% of SEA worth $108,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SE. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of SEA by 2,082.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 28,766,718 shares of the Internet company based in Singapore's stock worth $3,753,769,000 after purchasing an additional 27,448,779 shares in the last quarter. Jennison Associates LLC bought a new stake in SEA during the first quarter worth $336,521,000. Nuveen LLC bought a new stake in SEA during the first quarter worth $162,796,000. Mirae Asset Global Investments Co. Ltd. raised its position in SEA by 713.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 790,538 shares of the Internet company based in Singapore's stock worth $103,157,000 after acquiring an additional 693,336 shares in the last quarter. Finally, AGF Management Ltd. raised its position in SEA by 171.3% during the first quarter. AGF Management Ltd. now owns 982,853 shares of the Internet company based in Singapore's stock worth $128,252,000 after acquiring an additional 620,587 shares in the last quarter. Institutional investors own 59.53% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on SE shares. Benchmark upped their price target on shares of SEA from $180.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Loop Capital restated a "buy" rating and issued a $190.00 price target (up from $165.00) on shares of SEA in a research note on Thursday, May 29th. Wall Street Zen upgraded shares of SEA from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Macquarie restated an "outperform" rating and issued a $219.90 price target (up from $178.20) on shares of SEA in a research note on Tuesday, August 12th. Finally, Wedbush upped their price target on shares of SEA from $170.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $173.99.

SEA Price Performance

SEA stock traded up $2.24 during trading hours on Wednesday, reaching $181.02. 2,716,616 shares of the stock were exchanged, compared to its average volume of 4,594,931. The company has a market cap of $106.64 billion, a P/E ratio of 93.79 and a beta of 1.53. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.16. Sea Limited Sponsored ADR has a twelve month low of $75.67 and a twelve month high of $190.75. The stock has a 50 day moving average of $163.17 and a two-hundred day moving average of $147.26.

SEA (NYSE:SE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The Internet company based in Singapore reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.03 by ($0.38). The firm had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5 billion. SEA had a return on equity of 13.66% and a net margin of 6.23%.The company's quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. Equities analysts expect that Sea Limited Sponsored ADR will post 0.74 EPS for the current fiscal year.

SEA Profile

Sea Ltd. is an internet and mobile platform company, which engages in the provision of online gaming services. It operates through the following segments: Digital Entertainment, E-Commerce, and Digital Financial Services. The Digital Entertainment segment offers and develops mobile and PC online games.