Allianz Asset Management GmbH Makes New $12.10 Million Investment in Tuya Inc. Sponsored ADR (NYSE:TUYA)

Key Points

• Allianz Asset Management GmbH acquired a new stake of approximately $12.1 million in Tuya Inc., representing about 0.74% of the company, during the first quarter.
• Tuya's stock rating by Wall Street Zen was downgraded from "strong-buy" to "buy" as of May 22nd.
• Tuya reported quarterly earnings of $0.02 per share, matching estimates, with a revenue of $74.69 million which exceeded expectations of $73.20 million.

Allianz Asset Management GmbH acquired a new stake in Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,969,490 shares of the company's stock, valued at approximately $12,101,000. Allianz Asset Management GmbH owned 0.74% of Tuya at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. bought a new position in shares of Tuya in the first quarter valued at about $22,385,000. Arrowstreet Capital Limited Partnership raised its position in shares of Tuya by 497.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company's stock valued at $3,838,000 after purchasing an additional 1,784,940 shares during the period. Millennium Management LLC raised its position in shares of Tuya by 35.4% in the fourth quarter. Millennium Management LLC now owns 1,992,779 shares of the company's stock valued at $3,567,000 after purchasing an additional 521,515 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of Tuya in the fourth quarter valued at about $2,292,000. Finally, Marshall Wace LLP raised its position in shares of Tuya by 1.8% in the fourth quarter. Marshall Wace LLP now owns 1,204,026 shares of the company's stock valued at $2,155,000 after purchasing an additional 21,424 shares during the period. 11.47% of the stock is owned by institutional investors.

Tuya Stock Performance

NYSE:TUYA traded down $0.13 during mid-day trading on Tuesday, reaching $2.35. 1,125,426 shares of the company's stock were exchanged, compared to its average volume of 2,990,196. Tuya Inc. Sponsored ADR has a one year low of $1.28 and a one year high of $4.63. The firm has a market capitalization of $1.26 billion, a PE ratio of 58.64 and a beta of 0.46. The business's fifty day simple moving average is $2.51 and its two-hundred day simple moving average is $2.68.

Tuya (NYSE:TUYA - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.02 EPS for the quarter, hitting analysts' consensus estimates of $0.02. Tuya had a net margin of 6.28% and a return on equity of 2.22%. The business had revenue of $74.69 million for the quarter, compared to analyst estimates of $73.20 million.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Tuya from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd.

About Tuya

Tuya Inc offers purpose-built Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides platform-as-a-service that enables business, original equipment manufacturers, brands, and developers to develop, launch, manage, and monetize software-enabled smart devices and services; and industry software-as-a-service, which enables businesses to deploy, connect, and manage various types of smart devices.