Canada Pension Plan Investment Board Decreases Stake in Sea Limited (NYSE:SE)

Canada Pension Plan Investment Board cut its stake in shares of Sea Limited (NYSE:SE) by 16.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,337,435 shares of the Internet company based in Singapore’s stock after selling 258,902 shares during the period. Canada Pension Plan Investment Board’s holdings in SEA were worth $298,556,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SE. First Trust Advisors LP acquired a new stake in SEA in the first quarter valued at $301,000. FIL Ltd lifted its stake in SEA by 693.9% during the fourth quarter. FIL Ltd now owns 897,660 shares of the Internet company based in Singapore’s stock worth $178,679,000 after purchasing an additional 784,597 shares during the last quarter. Northern Trust Corp boosted its holdings in SEA by 3.4% in the fourth quarter. Northern Trust Corp now owns 132,739 shares of the Internet company based in Singapore’s stock valued at $26,422,000 after purchasing an additional 4,334 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in SEA by 343.9% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,931 shares of the Internet company based in Singapore’s stock valued at $384,000 after purchasing an additional 1,496 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in SEA by 7.2% during the fourth quarter. LPL Financial LLC now owns 44,390 shares of the Internet company based in Singapore’s stock worth $8,836,000 after purchasing an additional 2,979 shares in the last quarter. Hedge funds and other institutional investors own 51.35% of the company’s stock.

Shares of NYSE SE traded down $2.49 during midday trading on Thursday, hitting $291.43. The company had a trading volume of 59,236 shares, compared to its average volume of 2,433,182. The firm has a market cap of $149.19 billion, a price-to-earnings ratio of -81.02 and a beta of 1.30. Sea Limited has a twelve month low of $101.70 and a twelve month high of $297.75. The firm has a 50-day simple moving average of $264.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.78 and a quick ratio of 1.76.

SEA (NYSE:SE) last posted its quarterly earnings results on Tuesday, May 18th. The Internet company based in Singapore reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.06). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.68 billion. SEA had a negative net margin of 32.54% and a negative return on equity of 82.81%. SEA’s revenue was up 146.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.61) earnings per share. Research analysts forecast that Sea Limited will post -2.5 earnings per share for the current fiscal year.

SE has been the topic of several research analyst reports. Bank of America upgraded shares of SEA from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $260.00 to $340.00 in a research note on Thursday, June 10th. Morgan Stanley upped their target price on SEA from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday. New Street Research initiated coverage on shares of SEA in a report on Friday, June 25th. They issued a “buy” rating and a $325.00 target price on the stock. Zacks Investment Research cut shares of SEA from a “hold” rating to a “sell” rating in a research note on Thursday, May 27th. Finally, Sanford C. Bernstein began coverage on SEA in a report on Wednesday, June 16th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. SEA presently has an average rating of “Buy” and a consensus price target of $249.42.

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 provides Garena digital entertainment platform for users to access mobile and PC online games, as well as eSports operations; and access to other entertainment content, such as livestreaming of gameplay and social features, such as user chat and online forums.

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Institutional Ownership by Quarter for SEA (NYSE:SE)

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