IDG China Capital Fund III Associates L.P. bought a new stake in shares of Pony AI Inc. (NASDAQ:PONY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,529,589 shares of the company's stock, valued at approximately $93,700,000. Pony AI comprises approximately 93.3% of IDG China Capital Fund III Associates L.P.'s investment portfolio, making the stock its biggest holding. IDG China Capital Fund III Associates L.P. owned 1.87% of Pony AI at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Lingotto Investment Management LLP bought a new stake in Pony AI in the fourth quarter worth about $17,220,000. Neumann Advisory Hong Kong Ltd purchased a new position in Pony AI during the 4th quarter valued at $14,808,000. Robeco Schweiz AG bought a new position in Pony AI in the 4th quarter valued at $8,811,000. Matthews International Capital Management LLC purchased a new stake in Pony AI in the fourth quarter worth $1,654,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Pony AI during the fourth quarter worth $281,000.
Pony AI Price Performance
NASDAQ:PONY traded down $0.31 during mid-day trading on Thursday, reaching $14.90. The company's stock had a trading volume of 2,301,797 shares, compared to its average volume of 1,409,784. Pony AI Inc. has a 1 year low of $11.90 and a 1 year high of $23.88. The business's fifty day simple moving average is $14.91.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on PONY. Bank of America started coverage on shares of Pony AI in a report on Monday, December 23rd. They issued a "buy" rating and a $18.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pony AI in a research note on Tuesday, January 14th. They issued a "buy" rating and a $20.00 target price on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Pony AI in a research note on Monday, December 23rd. They set a "buy" rating and a $19.60 price target for the company.
Read Our Latest Stock Analysis on Pony AI
About Pony AI
(
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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