Principal Financial Group Inc. Sells 47,808 Shares of Sea Limited (NYSE:SE)

Principal Financial Group Inc. lessened its holdings in Sea Limited (NYSE:SE) by 24.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 151,612 shares of the Internet company based in Singapore’s stock after selling 47,808 shares during the period. Principal Financial Group Inc.’s holdings in SEA were worth $14,294,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Duquesne Family Office LLC purchased a new position in shares of SEA in the 2nd quarter worth approximately $4,778,000. WCM Investment Management LLC boosted its stake in SEA by 35.9% during the third quarter. WCM Investment Management LLC now owns 20,902,378 shares of the Internet company based in Singapore’s stock worth $1,971,303,000 after buying an additional 5,517,559 shares during the period. Robeco Institutional Asset Management B.V. increased its position in SEA by 1.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 404,096 shares of the Internet company based in Singapore’s stock valued at $38,098,000 after acquiring an additional 7,175 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of SEA by 28.2% in the second quarter. Toronto Dominion Bank now owns 892,969 shares of the Internet company based in Singapore’s stock valued at $63,776,000 after acquiring an additional 196,506 shares during the period. Finally, M&T Bank Corp lifted its holdings in shares of SEA by 2,163.9% in the 3rd quarter. M&T Bank Corp now owns 74,505 shares of the Internet company based in Singapore’s stock worth $7,024,000 after acquiring an additional 71,214 shares during the last quarter. Hedge funds and other institutional investors own 59.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SE. TD Cowen increased their price objective on shares of SEA from $69.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Barclays raised their price target on SEA from $94.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Bank of America upped their price objective on SEA from $84.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Phillip Securities reiterated a “reduce” rating and set a $100.00 target price (up from $80.00) on shares of SEA in a research report on Tuesday, November 19th. Finally, Dbs Bank upgraded shares of SEA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SEA has a consensus rating of “Moderate Buy” and an average price target of $91.21.

SEA Stock Performance

Shares of SE stock opened at $108.72 on Friday. The company’s 50 day moving average is $107.58 and its 200 day moving average is $88.64. The company has a quick ratio of 1.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.36. The firm has a market cap of $62.22 billion, a price-to-earnings ratio of 724.80 and a beta of 1.53. Sea Limited has a 52-week low of $34.35 and a 52-week high of $119.47.

SEA (NYSE:SE) last released its quarterly earnings results on Tuesday, November 12th. The Internet company based in Singapore reported $0.24 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.35). SEA had a return on equity of 1.40% and a net margin of 0.64%. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the firm posted ($0.26) earnings per share. The company’s revenue was up 30.8% on a year-over-year basis. On average, sell-side analysts anticipate that Sea Limited will post 0.81 EPS 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.