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

Allspring Global Investments Holdings LLC decreased its position in Sea Limited (NYSE:SE) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 655,420 shares of the Internet company based in Singapore’s stock after selling 32,514 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SEA were worth $68,734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in SEA in the second quarter worth $388,000. Ritholtz Wealth Management bought a new position in SEA in the 3rd quarter worth $593,000. Swedbank AB raised its holdings in SEA by 53.0% in the 3rd quarter. Swedbank AB now owns 143,344 shares of the Internet company based in Singapore’s stock worth $13,514,000 after purchasing an additional 49,684 shares in the last quarter. Roberts Wealth Advisors LLC purchased a new stake in shares of SEA in the 3rd quarter worth about $2,223,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of SEA by 1.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,354 shares of the Internet company based in Singapore’s stock valued at $3,427,000 after purchasing an additional 446 shares in the last quarter. 59.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SE has been the subject of a number of research reports. Barclays increased their price target on shares of SEA from $94.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Dbs Bank raised SEA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Benchmark lifted their price target on SEA from $94.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Phillip Securities reiterated a “reduce” rating and issued a $100.00 price objective (up previously from $80.00) on shares of SEA in a report on Tuesday, November 19th. Finally, Wedbush reissued an “outperform” rating and set a $105.00 price objective (up previously from $84.00) on shares of SEA in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.21.

SEA Price Performance

Shares of NYSE:SE opened at $130.58 on Thursday. The company has a market capitalization of $74.74 billion, a PE ratio of 870.53 and a beta of 1.55. The business has a fifty day moving average price of $114.76 and a 200-day moving average price of $98.81. Sea Limited has a 1-year low of $41.60 and a 1-year high of $130.65. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.62 and a quick ratio of 1.60.

SEA (NYSE:SE) last released its quarterly earnings data on Tuesday, November 12th. The Internet company based in Singapore reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.35). The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.09 billion. SEA had a net margin of 0.64% and a return on equity of 1.40%. The firm’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.26) earnings per share. As a group, equities analysts expect that Sea Limited will post 0.8 EPS for the current fiscal year.

SEA Company Profile

Sea Ltd. is an internet and mobile platform company, which engages in the provision of online gaming services. It operates through the following segments: Digital Entertainment, E-Commerce, and Digital Financial Services. The Digital Entertainment segment offers and develops mobile and PC online games.