Jingye Chen Sells 30,000 Shares of SEA (NYSE:SE) Stock

Key Points

• Insider selling: Jingye Chen sold 30,000 SEA shares at an average price of $107.51 for approximately $3.23 million, reducing the position by 12.5% to 210,000 shares. Chen also sold 30,000 shares on September 9 and September 14.
• Mixed quarterly results: 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 outlook remains favorable: SEA has a “Moderate Buy” consensus rating and an average price target of $149.40, despite ratings ranging from Strong Buy to Sell. Institutional investors own approximately 59.53% of the company.

Sea Limited Sponsored ADR (NYSE:SE - Get Free Report) insider Jingye Chen sold 30,000 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $107.51, for a total transaction of $3,225,300.00. Following the completion of the transaction, the insider directly owned 210,000 shares of the company's stock, valued at $22,577,100. This trade represents a 12.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Jingye Chen also recently made the following trade(s):

• On Monday, September 14th, Jingye Chen sold 30,000 shares of SEA stock. The shares were sold at an average price of $107.94, for a total transaction of $3,238,200.00.
• On Wednesday, September 9th, Jingye Chen sold 30,000 shares of SEA stock. The stock was sold at an average price of $108.87, for a total transaction of $3,266,100.00.

SEA Price Performance

SE stock opened at $108.49 on Tuesday. The stock has a market cap of $66.29 billion, a price-to-earnings ratio of 41.89, a P/E/G ratio of 1.07 and a beta of 1.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.48. The company has a 50 day simple moving average of $112.21 and a 200 day simple moving average of $96.99. Sea Limited Sponsored ADR has a 1 year low of $77.05 and a 1 year high of $196.45.

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 for the quarter, missing analysts' consensus estimates of $0.86 by ($0.16). The company had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.12 billion. SEA had a net margin of 5.98% and a return on equity of 13.54%. The business's quarterly revenue was up 48.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 EPS. Research analysts anticipate that Sea Limited Sponsored ADR will post 2.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SE. TD Cowen reaffirmed a "hold" rating on shares of SEA in a report on Monday, August 17th. Benchmark boosted their price target on SEA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Zacks Research downgraded SEA from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Barclays raised their price objective on shares of SEA from $122.00 to $156.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of SEA from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. One investment 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, SEA currently has an average rating of "Moderate Buy" and an average price target of $149.40.

Institutional Investors Weigh In On SEA

A number of institutional investors have recently made changes to their positions in the stock. MCF Advisors LLC increased its stake in shares of SEA by 129.6% in the second quarter. MCF Advisors LLC now owns 5,168 shares of the Internet company based in Singapore's stock valued at $495,000 after buying an additional 2,917 shares during the period. Whetstone Capital Advisors LLC acquired a new position in shares of SEA in the second quarter worth approximately $8,191,000. National Pension Service lifted its stake in shares of SEA by 10.0% in the second quarter. National Pension Service now owns 605,437 shares of the Internet company based in Singapore's stock worth $58,019,000 after acquiring an additional 54,819 shares during the period. C WorldWide Group Holding A S boosted its holdings in SEA by 2.6% in the second quarter. C WorldWide Group Holding A S now owns 198,560 shares of the Internet company based in Singapore's stock valued at $19,028,000 after acquiring an additional 4,953 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in SEA by 6.2% in the second quarter. Baird Financial Group Inc. now owns 879,107 shares of the Internet company based in Singapore's stock valued at $84,245,000 after acquiring an additional 50,965 shares during the last quarter. Institutional investors own 59.53% of the company's stock.

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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