Allianz Asset Management GmbH Takes Position 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 shares of Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 3,969,490 shares of the company's stock, valued at approximately $12,101,000. Allianz Asset Management GmbH owned approximately 0.74% of Tuya as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TUYA. Principal Financial Group Inc. purchased a new position in Tuya in the 1st quarter worth approximately $22,385,000. Arrowstreet Capital Limited Partnership lifted its holdings in Tuya by 497.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,144,103 shares of the company's stock worth $3,838,000 after purchasing an additional 1,784,940 shares in the last quarter. Millennium Management LLC lifted its holdings in Tuya by 35.4% in the 4th quarter. Millennium Management LLC now owns 1,992,779 shares of the company's stock worth $3,567,000 after purchasing an additional 521,515 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Tuya in the 4th quarter worth approximately $2,292,000. Finally, Marshall Wace LLP lifted its holdings in Tuya by 1.8% in the 4th quarter. Marshall Wace LLP now owns 1,204,026 shares of the company's stock worth $2,155,000 after purchasing an additional 21,424 shares in the last quarter. 11.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Tuya Trading Down 1.4%

NYSE TUYA opened at $2.49 on Friday. The stock's 50 day moving average is $2.52 and its 200 day moving average is $2.66. Tuya Inc. Sponsored ADR has a 12 month low of $1.28 and a 12 month high of $4.63. The stock has a market cap of $1.34 billion, a PE ratio of 62.14 and a beta of 0.46.

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

Tuya Company Profile

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.

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