Insider Selling: Pony AI (NASDAQ:PONY) VP Sells $110,220.40 in Stock

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) VP Ning Zhang sold 15,524 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $7.10, for a total transaction of $110,220.40. Following the completion of the transaction, the vice president directly owned 645,835 shares in the company, valued at $4,585,428.50. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Pony AI Stock Performance

Shares of PONY stock traded down $0.40 during midday trading on Tuesday, hitting $6.54. 5,006,938 shares of the company were exchanged, compared to its average volume of 4,218,757. The firm has a market capitalization of $2.84 billion, a P/E ratio of -18.17 and a beta of 3.87. The firm’s 50 day moving average price is $7.42 and its two-hundred day moving average price is $8.52. Pony AI Inc. – Sponsored ADR has a 52 week low of $6.36 and a 52 week high of $24.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PONY shares. Bank of America reduced their price objective on Pony AI from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. BNP Paribas Exane raised Pony AI from a “neutral” rating to an “outperform” rating in a report on Thursday, August 20th. Jefferies Financial Group reissued a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pony AI in a report on Tuesday, September 8th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.57.

Institutional Trading of Pony AI

Several hedge funds and other institutional investors have recently bought and sold shares of PONY. TMT General Partner Ltd boosted its holdings in Pony AI by 262.1% in the 1st quarter. TMT General Partner Ltd now owns 6,942,135 shares of the company’s stock valued at $65,534,000 after purchasing an additional 5,024,721 shares during the period. Lingotto Investment Management LLP increased its holdings in shares of Pony AI by 72.6% during the fourth quarter. Lingotto Investment Management LLP now owns 4,107,512 shares of the company’s stock worth $59,559,000 after purchasing an additional 1,727,620 shares during the period. Amova Asset Management Americas Inc. raised its position in shares of Pony AI by 266.2% in the fourth quarter. Amova Asset Management Americas Inc. now owns 1,974,499 shares of the company’s stock valued at $28,630,000 after buying an additional 1,435,358 shares in the last quarter. Hel Ved Capital Management Ltd raised its position in shares of Pony AI by 47.5% in the fourth quarter. Hel Ved Capital Management Ltd now owns 778,879 shares of the company’s stock valued at $11,294,000 after buying an additional 250,900 shares in the last quarter. Finally, Keystone Investors PTE Ltd. raised its position in shares of Pony AI by 202.0% in the fourth quarter. Keystone Investors PTE Ltd. now owns 668,658 shares of the company’s stock valued at $9,696,000 after buying an additional 447,250 shares in the last quarter.

About Pony AI

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.