Canada Pension Plan Investment Board Takes Position in Tuya Inc. Sponsored ADR $TUYA

Key Points

• The Canada Pension Plan Investment Board has acquired a new position in Tuya Inc., purchasing 1,469,600 shares valued at approximately $4.45 million, which represents about 0.27% ownership of the company.
• Tuya has announced a quarterly dividend of $0.054 per share, leading to a yield of 8.6%, with the ex-dividend date set for September 11.
• Several analysts have rated Tuya with a consensus "Buy" rating, setting a price target of $3.49, while the stock currently trades at $2.53.

Canada Pension Plan Investment Board purchased a new stake in Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,469,600 shares of the company's stock, valued at approximately $4,453,000. Canada Pension Plan Investment Board owned approximately 0.27% of Tuya as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Baader Bank Aktiengesellschaft acquired a new stake in Tuya during the 1st quarter worth $32,000. Numerai GP LLC acquired a new stake in Tuya in the fourth quarter worth $41,000. Belvedere Trading LLC bought a new position in shares of Tuya during the first quarter valued at about $120,000. BNP Paribas Financial Markets bought a new position in Tuya during the fourth quarter valued at $121,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Tuya by 36.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 90,571 shares of the company's stock worth $162,000 after purchasing an additional 24,377 shares in the last quarter. 11.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on TUYA. Wall Street Zen lowered Tuya from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Jefferies Financial Group began coverage on shares of Tuya in a research report on Tuesday, August 5th. They set a "buy" rating and a $3.49 target price for the company. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $3.49.

Tuya Trading Up 2.6%

NYSE TUYA traded up $0.07 during trading hours on Monday, reaching $2.59. 588,190 shares of the company's stock were exchanged, compared to its average volume of 2,791,827. The firm has a fifty day moving average of $2.48 and a 200-day moving average of $2.66. Tuya Inc. Sponsored ADR has a one year low of $1.28 and a one year high of $4.63. The stock has a market cap of $1.39 billion, a PE ratio of 51.71 and a beta of 0.47.

Tuya Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Thursday, September 11th will be given a $0.054 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date of this dividend is Thursday, September 11th.

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.