Sea Limited Sponsored ADR $SE Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its SEA stake by 80.6% in the third quarter, purchasing 251,517 additional shares and bringing its holdings to 563,692 shares worth approximately $54.9 million. Institutional investors and hedge funds collectively own 59.53% of the company.
• Wall Street’s outlook remains favorable, with SEA receiving a “Moderate Buy” consensus rating and an average price target of $149.40, well above its reported opening price of $93.68.
• SEA reported strong revenue growth of 48.3% year over year to $7.79 billion, but quarterly EPS of $0.70 fell short of the $0.86 analyst consensus. Meanwhile, company insiders sold more than 2.1 million shares worth approximately $260.5 million over the past three months.

Assenagon Asset Management S.A. increased its holdings in shares of Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 80.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 563,692 shares of the Internet company based in Singapore's stock after purchasing an additional 251,517 shares during the quarter. Assenagon Asset Management S.A. owned 0.09% of SEA worth $54,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Grove Bank & Trust lifted its position in SEA by 53.9% in the third quarter. Grove Bank & Trust now owns 614 shares of the Internet company based in Singapore's stock valued at $60,000 after buying an additional 215 shares during 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 acquiring an additional 174 shares during the last quarter. 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 acquiring an additional 1,100 shares during the last quarter. Osbon Capital Management LLC purchased a new position in shares of SEA during the 4th quarter worth approximately $175,000. Finally, HB Wealth Management LLC purchased a new position in shares of SEA during the 2nd quarter worth approximately $203,000. 59.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Sanford C. Bernstein reissued an "outperform" rating on shares of SEA in a research report on Monday, July 20th. TD Cowen reiterated a "hold" rating on shares of SEA in a research note on Monday, August 17th. Benchmark increased their price target on shares of SEA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Arete Research set a $152.00 price target on shares of SEA and gave the stock a "buy" rating in a research report on Monday, September 7th. Finally, Weiss Ratings raised shares of SEA from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, SEA currently has an average rating of "Moderate Buy" and an average target price of $149.40.

Insider Activity

In related news, CEO Xiaodong Li sold 1,057,650 shares of SEA stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $129.80, for a total value of $137,282,970.00. Following the completion of the transaction, the chief executive officer owned 288,450 shares in the company, valued at $37,440,810. The trade was a 78.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gang Ye sold 30,000 shares of the business's stock in a transaction that occurred 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 owned 430,000 shares of the company's stock, valued at $55,620,500. This trade represents a 6.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,148,786 shares of company stock worth $260,452,510 over the last three months. Insiders own 0.22% of the company's stock.

SEA Price Performance

Shares of NYSE SE opened at $93.68 on Friday. The stock's 50-day moving average is $107.71 and its two-hundred day moving average is $98.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.48. Sea Limited Sponsored ADR has a 1-year low of $77.05 and a 1-year high of $171.09. The company has a market cap of $57.24 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.54.

SEA (NYSE:SE - Get Free Report) last posted its quarterly 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). SEA had a net margin of 5.98% and a return on equity of 13.54%. The company had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the business earned $0.65 EPS. SEA's revenue for the quarter was up 48.3% on a year-over-year basis. Analysts forecast that Sea Limited Sponsored ADR will post 2.91 EPS for the current fiscal year.

About SEA

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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