Sea Limited Sponsored ADR $SE Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its stake in shares of Sea Limited Sponsored ADR (NYSE:SE) by 12.6% in the third quarter, Holdings Channel reports. The firm owned 227,460 shares of the Internet company based in Singapore’s stock after selling 32,828 shares during the period. Pictet Asset Management Holding SA’s holdings in SEA were worth $22,146,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank Pictet & Cie Europe AG lifted its holdings in SEA by 21.5% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 116,811 shares of the Internet company based in Singapore’s stock valued at $11,406,000 after buying an additional 20,680 shares in the last quarter. Whetstone Capital Advisors LLC bought a new position in SEA in the 2nd quarter worth about $8,191,000. Banque Pictet & Cie SA grew its stake in SEA by 6.6% in the 3rd quarter. Banque Pictet & Cie SA now owns 283,921 shares of the Internet company based in Singapore’s stock worth $27,644,000 after acquiring an additional 17,657 shares in the last quarter. Euro Pacific Asset Management LLC bought a new position in SEA in the 3rd quarter worth about $2,159,000. Finally, Assenagon Asset Management S.A. increased its position in shares of SEA by 80.6% during the third quarter. Assenagon Asset Management S.A. now owns 563,692 shares of the Internet company based in Singapore’s stock worth $54,881,000 after acquiring an additional 251,517 shares during the period. 59.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Cowen decreased their price target on shares of SEA from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday. Sanford C. Bernstein reissued an “outperform” rating on shares of SEA in a research note on Monday, July 20th. Arete Research raised SEA from a “neutral” rating to a “buy” rating and set a $152.00 price objective on the stock in a research note on Monday, September 7th. Bank of America set a $110.00 price objective on SEA and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays lifted their target price on SEA from $122.00 to $156.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.36.

SEA Stock Down 3.9%

NYSE:SE opened at $73.81 on Thursday. Sea Limited Sponsored ADR has a 1-year low of $71.53 and a 1-year high of $150.79. The company has a 50-day moving average of $92.51 and a 200 day moving average of $97.12. The firm has a market cap of $45.10 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 0.79 and a beta of 1.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.48.

SEA (NYSE:SE) last posted its earnings results on Tuesday, November 10th. The Internet company based in Singapore reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.21). The business had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.08 billion. SEA had a net margin of 5.89% and a return on equity of 13.85%. The company’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. As a group, research analysts anticipate that Sea Limited Sponsored ADR will post 2.88 EPS for the current fiscal year.

Insider Buying and Selling at SEA

In other news, insider Feng Zhao sold 40,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $95.02, for a total transaction of $3,800,800.00. Following the transaction, the insider directly owned 93,580 shares in the company, valued at approximately $8,891,971.60. This trade represents a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Gang Ye sold 30,000 shares of SEA stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $120.08, for a total transaction of $3,602,400.00. Following the transaction, the chief operating officer directly owned 310,000 shares in the company, valued at approximately $37,224,800. The trade was a 8.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 808,306 shares of company stock valued at $89,099,509 in the last ninety days. Company insiders own 0.22% of the company’s stock.

SEA News Summary

These are some of the SE news items that stood out recently:

• Positive Sentiment: Third-quarter revenue climbed 43.4% year over year to $8.58 billion, topping estimates, while net income rose 34% to $502.5 million. The board also authorized an additional $1 billion share repurchase. Sea Limited Q3 results
• Negative Sentiment: Monee’s credit-loss provisions reportedly rose 82.3%, raising concerns about lending risk and whether growth can translate into stronger, sustainable margins. Sea growth and credit-loss provisions
• Negative Sentiment: Insider Yanjun Wang sold 800 shares in several recent transactions. The sales are small relative to his remaining holdings, but repeated selling may add to investor caution. Insider transactions

SEA Company Profile

Sea Limited is a Singapore-based technology company operating digital entertainment, e-commerce and digital financial services businesses. Founded in 2009 as Garena, the company adopted the name Sea Limited in 2017. Its digital entertainment business, Garena, publishes and develops online games and also provides a platform for users to access games and connect with other players. Shopee, Sea’s e-commerce platform, serves consumers and merchants in Southeast Asia and other markets, including Taiwan and parts of Latin America.