Insider Selling: Pony AI (NASDAQ:PONY) CFO Sells $97,632.10 in Stock

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) CFO Haojun Wang sold 13,751 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $7.10, for a total value of $97,632.10. Following the completion of the transaction, the chief financial officer directly owned 1,463,466 shares in the company, valued at $10,390,608.60. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Pony AI Trading Down 4.6%

PONY stock opened at $6.24 on Friday. The stock has a 50-day moving average price of $7.39 and a two-hundred day moving average price of $8.40. Pony AI Inc. – Sponsored ADR has a 12-month low of $6.11 and a 12-month high of $24.92. The company has a market cap of $2.71 billion, a PE ratio of -17.33 and a beta of 3.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. acquired a new position in Pony AI during the 1st quarter worth approximately $30,000. First Trust Advisors LP grew its position in Pony AI by 32.3% in the first quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock valued at $125,000 after acquiring an additional 3,236 shares in the last quarter. IFP Advisors Inc grew its position in Pony AI by 784.6% in the fourth quarter. IFP Advisors Inc now owns 6,051 shares of the company’s stock valued at $88,000 after acquiring an additional 5,367 shares in the last quarter. Nykredit A S purchased a new stake in shares of Pony AI during the second quarter valued at approximately $74,000. Finally, Havemeyer Place LP purchased a new stake in shares of Pony AI during the fourth quarter valued at approximately $171,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PONY shares. Jefferies Financial Group reiterated a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Pony AI in a report on Tuesday, September 8th. Bank of America reduced their price target on shares of Pony AI from $19.00 to $17.00 and set a “buy” rating on the stock 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 investment 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.57.

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.