Principal Financial Group Inc. grew its position in Sea Limited (NYSE:SE – Free Report) by 62.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,814 shares of the Internet company based in Singapore’s stock after buying an additional 16,483 shares during the period. Principal Financial Group Inc.’s holdings in SEA were worth $3,706,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of SEA in the 4th quarter worth approximately $237,386,000. Baillie Gifford & Co. raised its position in SEA by 8.6% in the first quarter. Baillie Gifford & Co. now owns 21,991,406 shares of the Internet company based in Singapore’s stock valued at $1,903,356,000 after purchasing an additional 1,736,996 shares during the period. Capital International Investors lifted its stake in SEA by 92.1% during the first quarter. Capital International Investors now owns 3,418,102 shares of the Internet company based in Singapore’s stock worth $409,473,000 after purchasing an additional 1,638,408 shares in the last quarter. Altimeter Capital Management LP boosted its position in shares of SEA by 128.0% during the first quarter. Altimeter Capital Management LP now owns 2,850,000 shares of the Internet company based in Singapore’s stock worth $131,784,000 after buying an additional 1,600,000 shares during the period. Finally, BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of SEA in the fourth quarter valued at $68,520,000. Institutional investors and hedge funds own 72.05% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on SE shares. CICC Research cut shares of SEA from an “outperform” rating to a “market perform” rating in a research report on Friday, August 18th. Bernstein Bank decreased their target price on SEA from $100.00 to $90.00 in a report on Tuesday, July 11th. Bank of America cut their price target on SEA from $73.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, August 16th. UBS Group upgraded SEA from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $86.00 in a research note on Monday, July 31st. Finally, TD Cowen cut their target price on shares of SEA from $65.00 to $46.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 22nd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SEA currently has an average rating of “Moderate Buy” and an average price target of $72.50.
SEA Price Performance
Shares of NYSE SE opened at $38.52 on Friday. The stock has a fifty day moving average price of $53.60 and a 200 day moving average price of $65.94. Sea Limited has a 1-year low of $34.87 and a 1-year high of $88.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 1.73. The company has a market cap of $21.75 billion, a PE ratio of 98.77 and a beta of 1.75.
SEA (NYSE:SE – Get Free Report) last announced its quarterly earnings data on Tuesday, August 15th. The Internet company based in Singapore reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.11). SEA had a net margin of 2.17% and a return on equity of 4.69%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the business earned ($1.35) EPS. SEA’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Sea Limited will post 1.26 EPS for the current year.
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 eSports operations.
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