IDG China Venture Capital Fund IV Associates L.P. bought a new position in Pony AI Inc. (NASDAQ:PONY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,102,665 shares of the company's stock, valued at approximately $144,973,000. Pony AI comprises about 33.7% of IDG China Venture Capital Fund IV Associates L.P.'s portfolio, making the stock its 2nd largest position. IDG China Venture Capital Fund IV Associates L.P. owned approximately 2.90% of Pony AI as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of PONY. Mirae Asset Global Investments Co. Ltd. bought a new position in Pony AI in the 4th quarter valued at approximately $281,000. Matthews International Capital Management LLC purchased a new position in shares of Pony AI in the fourth quarter worth $1,654,000. Robeco Schweiz AG bought a new position in shares of Pony AI during the fourth quarter valued at $8,811,000. Neumann Advisory Hong Kong Ltd purchased a new stake in shares of Pony AI during the fourth quarter valued at $14,808,000. Finally, Lingotto Investment Management LLP purchased a new stake in shares of Pony AI during the fourth quarter valued at $17,220,000.
Pony AI Trading Down 2.0 %
NASDAQ PONY traded down $0.31 during trading hours on Thursday, hitting $14.90. 2,301,797 shares of the company's stock traded hands, compared to its average volume of 1,409,784. Pony AI Inc. has a 52 week low of $11.90 and a 52 week high of $23.88. The stock has a fifty day simple moving average of $14.91.
Analysts Set New Price Targets
PONY has been the subject of a number of research analyst reports. The Goldman Sachs Group started coverage on shares of Pony AI in a research note on Monday, December 23rd. They issued a "buy" rating and a $19.60 price target for the company. Bank of America initiated coverage on shares of Pony AI in a report on Monday, December 23rd. They issued a "buy" rating and a $18.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pony AI in a research note on Tuesday, January 14th. They set a "buy" rating and a $20.00 target price for the company.
Read Our Latest Analysis on Pony AI
Pony AI Company Profile
(
Free Report)
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.
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