Coatue Management LLC Lowers Holdings in Sea Limited (NYSE:SE)

Coatue Management LLC cut its position in Sea Limited (NYSE:SE) by 19.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,590,851 shares of the Internet company based in Singapore’s stock after selling 614,519 shares during the quarter. SEA comprises 2.8% of Coatue Management LLC’s investment portfolio, making the stock its 14th biggest position. Coatue Management LLC owned about 0.51% of SEA worth $711,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eaton Vance Management purchased a new stake in shares of SEA during the 1st quarter valued at $26,000. Psagot Investment House Ltd. purchased a new stake in shares of SEA during the 2nd quarter valued at $30,000. Tsfg LLC purchased a new stake in shares of SEA during the 2nd quarter valued at $32,000. Clearstead Advisors LLC purchased a new stake in shares of SEA during the 1st quarter valued at $35,000. Finally, Thomas J. Herzfeld Advisors Inc. raised its position in shares of SEA by 36.2% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 188 shares of the Internet company based in Singapore’s stock valued at $42,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 52.00% of the company’s stock.

A number of brokerages recently commented on SE. Morgan Stanley lifted their target price on shares of SEA from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, July 22nd. New Street Research began coverage on shares of SEA in a research 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 report on Saturday, August 21st. Sanford C. Bernstein began coverage on shares of SEA in a research report on Wednesday, June 16th. They issued an “outperform” rating on the stock. Finally, DZ Bank began coverage on shares of SEA in a research report on Wednesday, September 29th. They issued a “buy” rating and a $400.00 target price on the stock. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $287.77.

SEA stock traded up $2.29 during trading hours on Thursday, reaching $351.64. The stock had a trading volume of 70,775 shares, compared to its average volume of 3,711,929. The company has a fifty day simple moving average of $324.18 and a 200-day simple moving average of $281.81. The stock has a market cap of $189.71 billion, a PE ratio of -98.99 and a beta of 1.32. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.60 and a quick ratio of 1.58. Sea Limited has a 52 week low of $155.10 and a 52 week high of $359.84.

SEA (NYSE:SE) last announced its earnings results on Monday, August 16th. The Internet company based in Singapore reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.09). The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.02 billion. SEA had a negative net margin of 26.46% and a negative return on equity of 64.29%. The company’s revenue for the quarter was up 158.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.68) EPS. Research analysts predict that Sea Limited will post -3.3 earnings per share for the current fiscal year.

SEA 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.

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Institutional Ownership by Quarter for SEA (NYSE:SE)

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