Carmignac Gestion Sells 980,728 Shares of Tuya Inc. Sponsored ADR $TUYA

Key Points

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Carmignac Gestion cut its holdings in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) by 24.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,038,244 shares of the company's stock after selling 980,728 shares during the quarter. Carmignac Gestion owned approximately 0.56% of Tuya worth $9,211,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boothbay Fund Management LLC raised its position in shares of Tuya by 46.0% in the fourth quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company's stock valued at $36,000 after purchasing an additional 6,300 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in Tuya in the 1st quarter valued at approximately $32,000. Marshall Wace LLP raised its holdings in Tuya by 1.8% during the 4th quarter. Marshall Wace LLP now owns 1,204,026 shares of the company's stock valued at $2,155,000 after acquiring an additional 21,424 shares during the period. Numerai GP LLC purchased a new stake in shares of Tuya during the fourth quarter worth $41,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Tuya by 36.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 90,571 shares of the company's stock worth $162,000 after acquiring an additional 24,377 shares in the last quarter. Institutional investors own 11.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TUYA. Wall Street Zen cut Tuya from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Jefferies Financial Group started coverage on Tuya in a research note on Tuesday, August 5th. They issued a "buy" rating and a $3.49 target price for the company. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Tuya has a consensus rating of "Buy" and a consensus price target of $3.49.

Tuya Price Performance

Shares of NYSE:TUYA traded up $0.1050 on Friday, hitting $2.4950. The company's stock had a trading volume of 1,688,445 shares, compared to its average volume of 1,249,947. The company has a market capitalization of $1.35 billion, a PE ratio of 62.39 and a beta of 0.46. The company has a 50-day simple moving average of $2.44 and a 200 day simple moving average of $2.71. Tuya Inc. Sponsored ADR has a 1 year low of $1.28 and a 1 year high of $4.63.

Tuya 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.