Wellington Management Group LLP trimmed its stake in Pony AI Inc. – Sponsored ADR (NASDAQ:PONY – Free Report) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,798,990 shares of the company’s stock after selling 234,796 shares during the period. Wellington Management Group LLP’s holdings in Pony AI were worth $19,453,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new position in shares of Pony AI during the first quarter valued at about $139,000. Invesco Ltd. acquired a new stake in Pony AI during the second quarter worth about $206,000. First Trust Advisors LP acquired a new stake in Pony AI during the second quarter worth about $276,000. Marshall Wace LLP increased its stake in Pony AI by 4.7% during the second quarter. Marshall Wace LLP now owns 265,503 shares of the company’s stock valued at $3,505,000 after acquiring an additional 11,986 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in Pony AI during the second quarter valued at about $64,000.
Analyst Upgrades and Downgrades
A number of analysts have commented on PONY shares. Macquarie Infrastructure reiterated an “outperform” rating and issued a $24.00 price objective on shares of Pony AI in a research report on Tuesday, May 26th. Weiss Ratings cut Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Zacks Research upgraded Pony AI from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Pony AI in a research report on Tuesday, August 18th. Finally, BNP Paribas Exane upgraded shares of Pony AI from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 20th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Pony AI currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.
Pony AI Price Performance
NASDAQ PONY opened at $7.35 on Monday. Pony AI Inc. – Sponsored ADR has a twelve month low of $6.36 and a twelve month high of $24.92. The stock has a market cap of $3.19 billion, a P/E ratio of -20.42 and a beta of 3.87. The company’s 50-day simple moving average is $7.41 and its 200 day simple moving average is $9.27.
Insider Buying and Selling at Pony AI
In other news, VP Ning Zhang sold 17,347 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.86, for a total value of $119,000.42. Following the completion of the transaction, the vice president directly owned 630,109 shares of the company’s stock, valued at approximately $4,322,547.74. This represents a 2.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Luyi Mo sold 14,460 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.86, for a total value of $99,195.60. Following the transaction, the vice president owned 350,156 shares of the company’s stock, valued at $2,402,070.16. This trade represents a 3.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 45,558 shares of company stock valued at $312,528.
Pony AI Company Profile
Pony AI Inc develops and commercializes autonomous driving technologies for passenger mobility, freight transportation and other applications. Its proprietary Virtual Driver platform integrates software, hardware and services, while its PonyWorld world model supports the development and deployment of its autonomous driving systems. The company operates three primary business lines: Robotaxi services, Robotruck services and Intelligent Solutions, which include autonomous driving domain controllers and other technology products and services for automakers and industry customers.
Founded in late 2016 in Fremont, California, by Jun “James” Peng and Tiancheng Lou, Pony.ai is headquartered in Guangzhou, China.
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