5 Best Asian Stocks To Buy Today

2. Sea Limited (NYSE:SE)

Number of Hedge Fund Holders: 65   

Sea Limited (NYSE:SE) engages in the digital entertainment, e-commerce, and digital financial businesses. In mid-May, the sovereign wealth fund of Saudi Arabia, one of the biggest investors in the world, acquired a large stake in the company. The fund bought close to 240,000 shares in the tech firm. The purchase came even as video game sales, one of the biggest sources of revenue for the firm, continued to fall. However, despite the falling sales, there are signs video game demand is stabilizing back to pre-pandemic levels. 

On August 18, Barclays analyst Jiong Shao maintained an Overweight rating on Sea Limited (NYSE:SE) stock and lowered the price target to $114 from $125, noting that many macro factors had become more uncertain in recent months for the firm. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Management is a leading shareholder in Sea Limited (NYSE:SE), with 8.2 million shares worth more than $548 million. 

In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Sea Limited (NYSE:SE) was one of them. Here is what the fund said:

“Sea Limited (NYSE:SE), a global digital gaming and e-commerce company, detracted from performance for the period held. Similar to other online consumer businesses, Sea faced significant multiple compression in the quarter, exacerbated by a slowdown in user growth at its key Free Fire digital game and mounting investments in its e-commerce operation, particularly in new markets like Brazil. We exited our position as we lost confidence in the long- term unit economics in some of Sea’s new markets and were concerned by the simultaneous slowdown in revenue growth and increase in underlying cash burn.”