ARK Investment Management LLC Acquires New Holdings in Pony AI Inc. – Sponsored ADR $PONY

ARK Investment Management LLC bought a new position in shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) in the third quarter, Holdings Channel reports. The firm bought 1,272,690 shares of the company’s stock, valued at approximately $28,623,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Pony AI by 103.5% in 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. CWM LLC acquired a new position in Pony AI in the 2nd quarter valued at $28,000. Jones Financial Companies Lllp raised its holdings in Pony AI by 704.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,197 shares of the company’s stock worth $47,000 after acquiring an additional 1,924 shares during the period. Daiwa Securities Group Inc. bought a new stake in Pony AI during the second quarter valued at about $64,000. Finally, SG Americas Securities LLC bought a new stake in Pony AI during the third quarter valued at about $116,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on PONY shares. CLSA began coverage on Pony AI in a research note on Friday, January 2nd. They issued an “outperform” rating and a $22.00 price objective on the stock. Macquarie Infrastructure initiated coverage on Pony AI in a research report on Monday, December 15th. They issued an “outperform” rating and a $29.00 price target on the stock. Citigroup restated a “buy” rating on shares of Pony AI in a research note on Thursday, January 15th. Wall Street Zen upgraded shares of Pony AI from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Barclays assumed coverage on shares of Pony AI in a research report on Tuesday, December 16th. They set an “equal weight” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

Pony AI Price Performance

PONY opened at $13.50 on Thursday. Pony AI Inc. – Sponsored ADR has a fifty-two week low of $4.11 and a fifty-two week high of $24.92. The company has a market capitalization of $5.20 billion, a P/E ratio of -9.57 and a beta of 6.26. The firm’s fifty day moving average price is $14.92 and its two-hundred day moving average price is $16.07.

About Pony AI

Pony.ai develops autonomous driving technologies for passenger and goods transportation. The company offers an end-to-end self-driving stack that combines perception, planning and control systems with proprietary hardware and software. Pony.ai’s solutions support robotaxi services and advanced driver-assistance system (ADAS) deployments across urban and suburban environments.

Founded in late 2016 by James Peng and Sean Gong, Pony.ai operates research and development centers in Fremont, California, as well as in Guangzhou and Beijing, China.