Principal Financial Group Inc. Purchases Shares of 7,387,838 Tuya Inc. Sponsored ADR (NYSE:TUYA)

Principal Financial Group Inc. bought a new position in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,387,838 shares of the company's stock, valued at approximately $22,385,000. Principal Financial Group Inc. owned 1.37% of Tuya as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TUYA. Boothbay Fund Management LLC grew its position in shares of Tuya by 46.0% during the fourth quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company's stock worth $36,000 after acquiring an additional 6,300 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Tuya during the 4th quarter worth $40,000. Numerai GP LLC acquired a new position in shares of Tuya during the 4th quarter worth $41,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Tuya by 157.9% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,200 shares of the company's stock valued at $52,000 after purchasing an additional 17,877 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Tuya by 37.5% in the 4th quarter. Sei Investments Co. now owns 58,726 shares of the company's stock valued at $105,000 after purchasing an additional 16,010 shares during the last quarter. 11.47% of the stock is currently owned by hedge funds and other institutional investors.

Tuya Stock Performance

TUYA stock traded down $0.04 during trading on Friday, hitting $2.48. The stock had a trading volume of 709,781 shares, compared to its average volume of 2,028,423. The company's 50 day moving average price is $2.51 and its two-hundred day moving average price is $2.61. Tuya Inc. Sponsored ADR has a 1-year low of $1.28 and a 1-year high of $4.63. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 61.89 and a beta of 0.46.

Tuya (NYSE:TUYA - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. Tuya had a net margin of 6.28% and a return on equity of 2.22%. The firm had revenue of $74.69 million during the quarter, compared to the consensus estimate of $73.20 million.

Analyst Upgrades and Downgrades

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

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.