Allianz Asset Management GmbH Takes $12.10 Million Position in Tuya Inc. Sponsored ADR (NYSE:TUYA)

Allianz Asset Management GmbH bought a new stake in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,969,490 shares of the company’s stock, valued at approximately $12,101,000.

Several other large investors have also recently modified their holdings of the stock. Boothbay Fund Management LLC grew its position in Tuya by 46.0% in the 4th quarter. Boothbay Fund Management LLC now owns 20,000 shares of the company’s stock valued at $36,000 after acquiring an additional 6,300 shares during the last quarter. Virtu Financial LLC bought a new position in Tuya in the 4th quarter valued at $40,000. Numerai GP LLC bought a new position in Tuya in the 4th quarter valued at $41,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position 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 acquiring an additional 17,877 shares during the last quarter. Finally, Sei Investments Co. grew its position 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 acquiring an additional 16,010 shares during the last quarter. Institutional investors own 11.47% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Tuya from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd.

Tuya Stock Down 1.4%

Shares of Tuya stock opened at $2.49 on Friday. The stock’s fifty day moving average is $2.52 and its two-hundred day moving average is $2.66. The company has a market capitalization of $1.34 billion, a PE ratio of 62.14 and a beta of 0.46. Tuya Inc. Sponsored ADR has a 52 week low of $1.28 and a 52 week high of $4.63.

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

About Tuya

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.