Pictet Asset Management Holding SA Takes Position in Pony AI Inc. – Sponsored ADR $PONY

Pictet Asset Management Holding SA acquired a new position in shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 333,014 shares of the company’s stock, valued at approximately $3,144,000. Pictet Asset Management Holding SA owned approximately 0.09% of Pony AI at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Pony AI during the 3rd quarter valued at about $89,174,000. Aspex Management HK Ltd raised its position in Pony AI by 728.1% during the third quarter. Aspex Management HK Ltd now owns 4,140,447 shares of the company’s stock valued at $93,119,000 after acquiring an additional 3,640,447 shares in the last quarter. Tiger Global Management LLC raised its position in Pony AI by 683.8% during the fourth quarter. Tiger Global Management LLC now owns 2,900,000 shares of the company’s stock valued at $42,050,000 after acquiring an additional 2,530,000 shares in the last quarter. Ghisallo Capital Management LLC acquired a new stake in Pony AI in the third quarter valued at approximately $53,076,000. Finally, FIL Ltd lifted its stake in Pony AI by 466.9% in the fourth quarter. FIL Ltd now owns 2,284,012 shares of the company’s stock valued at $33,118,000 after acquiring an additional 1,881,128 shares during the last quarter.

Pony AI Stock Performance

Shares of PONY opened at $6.83 on Friday. The company has a 50-day simple moving average of $8.80 and a 200-day simple moving average of $11.77. Pony AI Inc. – Sponsored ADR has a 52 week low of $6.66 and a 52 week high of $24.92. The firm has a market capitalization of $2.63 billion, a P/E ratio of -18.97 and a beta of 4.04.

Pony AI (NASDAQ:PONY) last issued its quarterly earnings results on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03. The firm had revenue of $34.25 million for the quarter, compared to analyst estimates of $22.30 million. Pony AI had a negative return on equity of 17.13% and a negative net margin of 128.22%. As a group, equities analysts forecast that Pony AI Inc. – Sponsored ADR will post -0.67 earnings per share for the current year.

Insider Activity

In other news, VP Ning Zhang sold 17,347 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $6.86, for a total transaction of $119,000.42. Following the sale, the vice president directly owned 630,109 shares in the company, valued at approximately $4,322,547.74. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Haojun Wang sold 13,751 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 1,442,504 shares of the company’s stock, valued at $9,895,577.44. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 45,558 shares of company stock worth $312,528.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings lowered shares of Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. HSBC assumed coverage on shares of Pony AI in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.60 price objective for the company. Macquarie Infrastructure reiterated an “outperform” rating and issued a $24.00 price objective on shares of Pony AI in a report on Tuesday, May 26th. The Goldman Sachs Group set a $30.00 price target on Pony AI in a research report on Thursday, April 16th. Finally, BNP Paribas Exane started coverage on Pony AI in a research report on Thursday, March 26th. They issued a “neutral” rating and a $12.50 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.95.

Pony AI Company Profile

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.