Allspring Global Investments Holdings LLC Decreases Stock Holdings in Sea Limited (NYSE:SE)

Allspring Global Investments Holdings LLC cut its holdings in Sea Limited (NYSE:SE) by 0.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 719,486 shares of the Internet company based in Singapore’s stock after selling 3,174 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.13% of SEA worth $51,386,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SE. Norges Bank bought a new stake in shares of SEA in the 4th quarter valued at approximately $640,219,000. Eminence Capital LP bought a new stake in SEA in the fourth quarter worth $60,714,000. National Bank of Canada FI boosted its stake in SEA by 201.0% during the fourth quarter. National Bank of Canada FI now owns 1,907,333 shares of the Internet company based in Singapore’s stock worth $73,337,000 after buying an additional 1,273,767 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in SEA during the first quarter valued at $60,171,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of SEA by 38.1% in the first quarter. Assenagon Asset Management S.A. now owns 3,667,085 shares of the Internet company based in Singapore’s stock valued at $196,959,000 after acquiring an additional 1,011,417 shares during the period. Institutional investors own 59.53% of the company’s stock.

SEA Stock Performance

Shares of SE stock opened at $82.32 on Wednesday. The company’s 50 day moving average is $71.69 and its 200 day moving average is $64.15. The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 0.41. The firm has a market cap of $47.12 billion, a price-to-earnings ratio of 1,646.40 and a beta of 1.51. Sea Limited has a 52-week low of $34.35 and a 52-week high of $83.69.

SEA (NYSE:SE) last released its quarterly earnings results on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.45). SEA had a negative return on equity of 2.92% and a negative net margin of 1.36%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts anticipate that Sea Limited will post 0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of SEA from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. TD Cowen increased their price target on SEA from $64.00 to $69.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. upgraded SEA from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $66.00 to $90.00 in a report on Wednesday, August 14th. Benchmark increased their target price on SEA from $87.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Loop Capital boosted their target price on shares of SEA from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

SEA Profile

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.