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

Allspring Global Investments Holdings LLC trimmed its position in shares of Sea Limited (NYSE:SE) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 722,660 shares of the Internet company based in Singapore’s stock after selling 63,060 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.13% of SEA worth $38,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SE. Norges Bank purchased a new position in SEA in the fourth quarter worth about $640,219,000. Baillie Gifford & Co. grew its position in SEA by 30.8% during the fourth 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 buying an additional 8,045,977 shares during the period. Assenagon Asset Management S.A. increased its holdings in SEA by 12,344.0% during the fourth 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 buying an additional 2,634,327 shares during the last quarter. Eminence Capital LP bought a new position in SEA in the fourth quarter worth approximately $60,714,000. Finally, National Bank of Canada FI boosted its stake in shares of SEA by 201.0% during the 4th 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 acquiring an additional 1,273,767 shares during the last quarter. 59.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SE has been the topic of several analyst reports. Sanford C. Bernstein lifted their target price 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 lifted their price objective on SEA from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Wedbush reissued an “outperform” rating and issued a $72.00 target price on shares of SEA in a report on Tuesday, May 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $78.00 price target (down from $84.00) on shares of SEA in a research report on Tuesday, June 25th. Finally, Benchmark increased their price objective on shares of SEA from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.50.

SEA Trading Up 1.6 %

Shares of SEA stock opened at $71.49 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.46 and a debt-to-equity ratio of 0.43. The firm has a market cap of $40.92 billion, a price-to-earnings ratio of 1,429.80 and a beta of 1.51. Sea Limited has a twelve month low of $34.35 and a twelve month high of $76.60. The business has a 50-day moving average price of $70.45 and a 200-day moving average price of $55.27.

SEA (NYSE:SE) last released its quarterly earnings data on Tuesday, May 14th. The Internet company based in Singapore reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.40). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.64 billion. SEA had a return on equity of 0.80% and a net margin of 0.39%. The business’s revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. Equities research analysts anticipate that Sea Limited will post 0.66 EPS for the current fiscal 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.