Principal Financial Group Inc. Purchases New Stake in Tuya Inc. Sponsored ADR (NYSE:TUYA)

Principal Financial Group Inc. bought a new position in Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the 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 approximately 1.37% of Tuya at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its position in Tuya by 88.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 249,459 shares of the company's stock worth $447,000 after acquiring an additional 117,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tuya by 60.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 560,101 shares of the company's stock worth $1,003,000 after buying an additional 209,985 shares during the period. Wexford Capital LP bought a new stake in shares of Tuya in the 4th quarter valued at about $341,000. Two Sigma Advisers LP raised its stake in Tuya by 250.7% in the fourth quarter. Two Sigma Advisers LP now owns 404,300 shares of the company's stock worth $724,000 after buying an additional 289,000 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Tuya by 423.9% in the fourth quarter. Two Sigma Investments LP now owns 784,622 shares of the company's stock valued at $1,404,000 after purchasing an additional 634,849 shares during the last quarter. Hedge funds and other institutional investors own 11.47% of the company's stock.

Tuya Stock Performance

Shares of TUYA traded down $0.03 during trading hours on Thursday, hitting $2.51. The stock had a trading volume of 1,596,242 shares, compared to its average volume of 2,026,637. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 62.64 and a beta of 0.46. The firm has a 50-day moving average price of $2.51 and a 200 day moving average price of $2.60. Tuya Inc. Sponsored ADR has a fifty-two week low of $1.28 and a fifty-two week high of $4.63.

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

Wall Street Analysts Forecast Growth

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

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.