Itau Unibanco Holding S.A. Sells 60,000 Shares of Pony AI Inc. - Sponsored ADR $PONY

Key Points

• Itau Unibanco Holding S.A. reduced its stake in Pony AI Inc. by 60%, selling 60,000 shares and holding 40,000 shares valued at $353,000.
• Several hedge funds, including Toyota Motor Corp with an investment of approximately $647 million, have recently increased their positions in Pony AI.
• Pony AI's stock has a consensus rating of "Buy" with a target price of $19.40, reflecting positive analyst sentiment and recent upgrades.

Itau Unibanco Holding S.A. lowered its holdings in Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Free Report) by 60.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,000 shares of the company's stock after selling 60,000 shares during the period. Itau Unibanco Holding S.A.'s holdings in Pony AI were worth $353,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Pony AI by 3,136.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 632,791 shares of the company's stock valued at $5,581,000 after buying an additional 613,238 shares in the last quarter. Yarbrough Capital LLC lifted its position in shares of Pony AI by 38.0% during the 1st quarter. Yarbrough Capital LLC now owns 100,001 shares of the company's stock valued at $882,000 after acquiring an additional 27,538 shares during the period. Prudential PLC acquired a new stake in shares of Pony AI during the 1st quarter worth $334,000. Barclays PLC acquired a new stake in shares of Pony AI during the 4th quarter worth $212,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Pony AI in the first quarter worth $293,000.

Pony AI Stock Performance

Shares of NASDAQ:PONY traded down $0.31 during midday trading on Friday, hitting $14.37. 3,069,514 shares of the stock were exchanged, compared to its average volume of 6,334,349. The business's 50-day moving average price is $13.90 and its 200 day moving average price is $13.14. Pony AI Inc. - Sponsored ADR has a 12 month low of $4.11 and a 12 month high of $23.88.

Pony AI (NASDAQ:PONY - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $21.45 million for the quarter. Equities research analysts anticipate that Pony AI Inc. - Sponsored ADR will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

PONY has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Pony AI from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. Daiwa America raised Pony AI to a "strong-buy" rating in a report on Sunday, July 27th. UBS Group initiated coverage on Pony AI in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Daiwa Capital Markets began coverage on Pony AI in a research note on Sunday, July 27th. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $19.40.

Pony AI Company Profile

Pony AI Inc, through its subsidiaries, engages in the autonomous mobility principally in the People's Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. Pony AI Inc is based in Guangzhou, the People's Republic of China.