Norges Bank Takes $640.22 Million Position in Sea Limited (NYSE:SE)

Norges Bank bought a new stake in shares of Sea Limited (NYSE:SE - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 15,807,868 shares of the Internet company based in Singapore's stock, valued at approximately $640,219,000. Norges Bank owned 2.80% of SEA as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SE. Baillie Gifford & Co. raised its position in shares of SEA by 30.8% in the 4th quarter. Baillie Gifford & Co. now owns 34,183,394 shares of the Internet company based in Singapore's stock valued at $1,384,427,000 after purchasing an additional 8,045,977 shares in the last quarter. Sands Capital Management LLC raised its position in shares of SEA by 3.5% during the 3rd quarter. Sands Capital Management LLC now owns 16,119,943 shares of the Internet company based in Singapore's stock valued at $708,471,000 after acquiring an additional 542,996 shares in the last quarter. Ward Ferry Management BVI Ltd raised its position in shares of SEA by 13.2% during the 3rd quarter. Ward Ferry Management BVI Ltd now owns 4,419,441 shares of the Internet company based in Singapore's stock valued at $194,234,000 after acquiring an additional 514,455 shares in the last quarter. Kontiki Capital Management HK Ltd. raised its position in shares of SEA by 19.2% during the 3rd quarter. Kontiki Capital Management HK Ltd. now owns 3,796,957 shares of the Internet company based in Singapore's stock valued at $166,876,000 after acquiring an additional 612,518 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of SEA by 12,344.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,655,668 shares of the Internet company based in Singapore's stock valued at $107,555,000 after acquiring an additional 2,634,327 shares in the last quarter. 59.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on SE. Sanford C. Bernstein upped their price target on SEA from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, March 14th. Bank of America increased their target price on SEA from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, May 15th. Daiwa Capital Markets raised SEA from a "neutral" rating to a "buy" rating in a research report on Friday, February 2nd. HSBC increased their target price on SEA from $70.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised SEA from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $43.00 to $70.00 in a research report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $72.73.

SEA Stock Performance

Shares of NYSE:SE traded down $0.65 on Monday, hitting $73.11. The company's stock had a trading volume of 4,722,162 shares, compared to its average volume of 6,661,756. Sea Limited has a 12 month low of $34.35 and a 12 month high of $74.33. The company has a market capitalization of $41.84 billion, a price-to-earnings ratio of 1,462.20 and a beta of 1.43. The stock's 50-day moving average is $59.80 and its two-hundred day moving average is $47.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.44 and a current ratio of 1.46.

SEA (NYSE:SE - Get Free Report) last released its quarterly earnings results on Tuesday, May 14th. The Internet company based in Singapore reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.40). SEA had a return on equity of 0.80% and a net margin of 0.39%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the company posted $0.15 EPS. The company's revenue for the quarter was up 22.8% compared to the same quarter last year. On average, equities research analysts forecast that Sea Limited will post 0.75 EPS for the current year.

About SEA

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It offers Garena digital entertainment platform for users to access mobile and PC online games, as well as promotes eSports operations.