TD Cowen Cuts SEA (NYSE:SE) Price Target to $100.00

SEA (NYSE:SE) had its price objective trimmed by TD Cowen from $108.00 to $100.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the Internet company based in Singapore’s stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group reissued a “buy” rating on shares of SEA in a research note on Tuesday, May 12th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of SEA in a research report on Monday, July 20th. Barclays lifted their target price on shares of SEA from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Zacks Research raised shares of SEA from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of SEA from $168.00 to $163.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.81.

SEA Price Performance

Shares of NYSE:SE opened at $111.01 on Tuesday. The firm has a market cap of $67.83 billion, a price-to-earnings ratio of 43.70, a P/E/G ratio of 1.11 and a beta of 1.54. SEA has a 1 year low of $77.05 and a 1 year high of $199.30. The company has a current ratio of 1.58, a quick ratio of 1.56 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $98.82 and a 200 day simple moving average of $96.73.

SEA (NYSE:SE) last issued its earnings results on Tuesday, May 12th. The Internet company based in Singapore reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). SEA had a net margin of 6.41% and a return on equity of 14.12%. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.46 billion. During the same quarter last year, the firm earned $0.65 EPS. The business’s revenue for the quarter was up 46.6% compared to the same quarter last year. As a group, sell-side analysts predict that SEA will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SEA news, COO Gang Ye sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $100.89, for a total transaction of $2,017,800.00. Following the completion of the transaction, the chief operating officer owned 540,000 shares of the company’s stock, valued at $54,480,600. The trade was a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 488,200 shares of company stock valued at $47,909,789. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On SEA

A number of institutional investors have recently made changes to their positions in SE. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of SEA by 24.4% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,791,660 shares of the Internet company based in Singapore’s stock worth $228,549,000 after purchasing an additional 350,840 shares during the last quarter. SG Americas Securities LLC grew its holdings in SEA by 5.7% in the 1st quarter. SG Americas Securities LLC now owns 1,642,304 shares of the Internet company based in Singapore’s stock valued at $135,999,000 after buying an additional 88,431 shares during the last quarter. Charles Lim Capital Ltd increased its position in SEA by 172.7% in the 4th quarter. Charles Lim Capital Ltd now owns 750,000 shares of the Internet company based in Singapore’s stock worth $95,678,000 after buying an additional 475,000 shares during the period. State of Tennessee Department of Treasury increased its position in SEA by 32.4% in the 4th quarter. State of Tennessee Department of Treasury now owns 718,949 shares of the Internet company based in Singapore’s stock worth $83,750,000 after buying an additional 175,746 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of SEA during the fourth quarter worth approximately $26,282,000. 59.53% of the stock is currently owned by institutional investors.

About SEA

Sea Limited (NYSE: SE) is a Singapore-based consumer internet company that operates a trio of interconnected businesses across digital entertainment, e-commerce and digital financial services. Founded in 2009 as Garena and later rebranded as Sea, the company is headquartered in Singapore and listed on the New York Stock Exchange. Sea positions itself as a technology platform focused on enabling online consumers, merchants and developers primarily across Southeast Asia and adjacent markets.

Sea’s digital entertainment arm, Garena, is a game developer and publisher that also organizes esports initiatives and operates online gaming platforms.