TMT General Partner Ltd Acquires 5,024,721 Shares of Pony AI Inc. – Sponsored ADR $PONY

TMT General Partner Ltd boosted its holdings in Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) by 262.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,942,135 shares of the company’s stock after purchasing an additional 5,024,721 shares during the period. Pony AI accounts for approximately 26.2% of TMT General Partner Ltd’s portfolio, making the stock its 2nd largest position. TMT General Partner Ltd’s holdings in Pony AI were worth $65,534,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PONY. Blue Trust Inc. acquired a new stake in shares of Pony AI in the first quarter worth $30,000. Leonteq Securities AG bought a new position in Pony AI during the fourth quarter worth $38,000. JPMorgan Chase & Co. raised its stake in Pony AI by 103.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,110 shares of the company’s stock valued at $47,000 after purchasing an additional 62,748 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Pony AI during the 2nd quarter valued at $64,000. Finally, Kestra Advisory Services LLC bought a new stake in Pony AI in the 4th quarter valued at $75,000.

Pony AI Price Performance

PONY opened at $6.91 on Wednesday. The company has a market capitalization of $2.66 billion, a P/E ratio of -19.19 and a beta of 4.04. The firm’s fifty day moving average price is $8.07 and its two-hundred day moving average price is $11.05. Pony AI Inc. – Sponsored ADR has a fifty-two week low of $6.36 and a fifty-two week high of $24.92.

Pony AI (NASDAQ:PONY) last announced its quarterly earnings data on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. Pony AI had a negative net margin of 128.22% and a negative return on equity of 17.13%. The company had revenue of $34.25 million during the quarter, compared to analysts’ expectations of $22.30 million. On average, equities research analysts expect that Pony AI Inc. – Sponsored ADR will post -0.67 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PONY. The Goldman Sachs Group set a $30.00 price target on shares of Pony AI in a research report on Thursday, April 16th. HSBC initiated coverage on shares of Pony AI in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.60 target price for the company. BNP Paribas Exane assumed coverage on Pony AI in a research report on Thursday, March 26th. They set a “neutral” rating and a $12.50 target price on the stock. Weiss Ratings lowered Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen cut Pony AI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pony AI currently has an average rating of “Moderate Buy” and a consensus target price of $19.95.

Insider Activity

In related news, VP Ning Zhang sold 17,347 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $6.86, for a total value of $119,000.42. Following the sale, the vice president owned 630,109 shares of the company’s stock, valued at $4,322,547.74. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Luyi Mo sold 14,460 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $6.86, for a total transaction of $99,195.60. Following the completion of the sale, the vice president directly owned 350,156 shares in the company, valued at approximately $2,402,070.16. The trade was a 3.97% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 45,558 shares of company stock worth $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.