Sumitomo Mitsui Trust Group Inc. Purchases 247,602 Shares of Pony AI Inc. – Sponsored ADR $PONY

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) by 84.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 539,141 shares of the company’s stock after acquiring an additional 247,602 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Pony AI were worth $12,125,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PONY. CWM LLC bought a new stake in Pony AI during the 2nd quarter worth approximately $28,000. Daiwa Securities Group Inc. acquired a new position in Pony AI in the second quarter worth $64,000. SG Americas Securities LLC bought a new stake in shares of Pony AI during the third quarter worth $116,000. Goldman Sachs Group Inc. acquired a new stake in shares of Pony AI in the first quarter valued at $139,000. Finally, Osaic Holdings Inc. acquired a new stake in shares of Pony AI in the second quarter valued at $140,000.

Pony AI Stock Performance

Shares of PONY stock opened at $16.30 on Friday. The firm’s 50 day moving average price is $14.60 and its two-hundred day moving average price is $15.93. Pony AI Inc. – Sponsored ADR has a 52-week low of $4.11 and a 52-week high of $24.92. The stock has a market cap of $6.28 billion, a PE ratio of -11.56 and a beta of 6.42.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PONY shares. CLSA initiated coverage on shares of Pony AI in a research report on Friday, January 2nd. They set an “outperform” rating and a $22.00 price target on the stock. Wall Street Zen lowered shares of Pony AI from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Pony AI in a report on Wednesday, October 8th. Jefferies Financial Group started coverage on shares of Pony AI in a research report on Friday, October 10th. They issued a “buy” rating for the company. Finally, Citigroup reiterated a “buy” rating on shares of Pony AI in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.10.

Pony AI 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.