Wellington Management Group LLP Has $19.45 Million Stock Holdings in Pony AI Inc. - Sponsored ADR $PONY

Key Points

• Wellington Management reduced its Pony AI position by 7.7% in the second quarter, selling 234,796 shares and retaining 2.8 million shares valued at approximately $19.45 million, or 0.64% of the company.
• Analyst sentiment remains generally positive: Pony AI has a “Moderate Buy” consensus rating from MarketBeat, with seven Buy, two Hold and one Sell rating and an average price target of $19.57.
• Pony AI shares opened at $7.35, near the lower end of their 52-week range of $6.36 to $24.92. Company insiders have also sold 45,558 shares worth about $312,528 over the past 90 days.

Wellington Management Group LLP trimmed its holdings in Pony AI Inc. - Sponsored ADR (NASDAQ:PONY - Free Report) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,798,990 shares of the company's stock after selling 234,796 shares during the period. Wellington Management Group LLP owned 0.64% of Pony AI worth $19,453,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PONY. Blue Trust Inc. bought a new position in shares of Pony AI during the 1st quarter valued at $30,000. Leonteq Securities AG acquired a new position in Pony AI during the fourth quarter worth $38,000. JPMorgan Chase & Co. increased its position in Pony AI by 103.5% during the third quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company's stock worth $47,000 after buying an additional 62,748 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Pony AI during the second quarter valued at about $64,000. Finally, Kestra Advisory Services LLC bought a new position in Pony AI during the fourth quarter valued at about $75,000.

Analysts Set New Price Targets

PONY has been the subject of a number of analyst reports. BNP Paribas Exane raised Pony AI from a "neutral" rating to an "outperform" rating in a research report on Thursday, August 20th. Macquarie Infrastructure reissued an "outperform" rating and issued a $24.00 price objective on shares of Pony AI in a research note on Tuesday, May 26th. Zacks Research raised Pony AI from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Bank of America reduced their target price on Pony AI from $19.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, August 18th. Finally, Weiss Ratings cut Pony AI from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, June 11th. Seven 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. According to MarketBeat, Pony AI currently has a consensus rating of "Moderate Buy" and an average target price of $19.57.

Pony AI Price Performance

Pony AI stock opened at $7.35 on Monday. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of -20.42 and a beta of 3.87. Pony AI Inc. - Sponsored ADR has a fifty-two week low of $6.36 and a fifty-two week high of $24.92. The firm has a fifty day moving average price of $7.41 and a two-hundred day moving average price of $9.27.

Insider Activity

In related news, VP Luyi Mo sold 14,460 shares of the business's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $6.86, for a total transaction of $99,195.60. Following the completion of the transaction, the vice president owned 350,156 shares of the company's stock, valued at approximately $2,402,070.16. The trade was a 3.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Haojun Wang sold 13,751 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $6.86, for a total value of $94,331.86. Following the sale, the chief financial officer owned 1,442,504 shares of the company's stock, valued at approximately $9,895,577.44. The trade was a 0.94% 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.

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.

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