Pony AI (NASDAQ:PONY) Shares Down 5% on Insider Selling

Shares of Pony AI Inc. – Sponsored ADR (NASDAQ:PONY) fell 5% on Tuesday after an insider sold shares in the company. The company traded as low as $6.60 and last traded at $6.5950. 2,354,634 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 4,202,894 shares. The stock had previously closed at $6.94.

Specifically, VP Luyi Mo sold 12,425 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $7.10, for a total transaction of $88,217.50. Following the completion of the sale, the vice president directly owned 362,737 shares of the company’s stock, valued at approximately $2,575,432.70. This represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Ning Zhang sold 15,524 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $7.10, for a total transaction of $110,220.40. Following the completion of the sale, the vice president owned 645,835 shares in the company, valued at $4,585,428.50. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other news, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $7.10, for a total value of $97,632.10. Following the transaction, the chief financial officer owned 1,463,466 shares of the company’s stock, valued at $10,390,608.60. The trade was a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

PONY has been the subject of a number of analyst reports. BNP Paribas Exane raised shares of Pony AI from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Pony AI in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pony AI in a research report on Tuesday, September 8th. Finally, Bank of America decreased their price objective on Pony AI from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Pony AI Price Performance

The stock has a market capitalization of $2.84 billion, a PE ratio of -18.17 and a beta of 3.87. The business’s fifty day moving average price is $7.41 and its two-hundred day moving average price is $8.44.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Blue Trust Inc. acquired a new stake in shares of Pony AI during the first quarter worth about $30,000. Nykredit A S acquired a new position in Pony AI in the 2nd quarter worth approximately $74,000. Greenleaf Trust acquired a new position in Pony AI in the 2nd quarter worth approximately $88,000. Corient Private Wealth LP acquired a new stake in shares of Pony AI in the second quarter worth $89,000. Finally, First Trust Advisors LP increased its stake in shares of Pony AI by 32.3% in the first quarter. First Trust Advisors LP now owns 13,264 shares of the company’s stock worth $125,000 after acquiring an additional 3,236 shares during the period.

Pony AI Company Profile

Pony AI Inc develops and commercializes autonomous driving technologies for passenger mobility, freight transportation and other applications. Its proprietary Virtual Driver platform integrates software, hardware and services, while its PonyWorld world model supports the development and deployment of its autonomous driving systems. The company operates three primary business lines: Robotaxi services, Robotruck services and Intelligent Solutions, which include autonomous driving domain controllers and other technology products and services for automakers and industry customers.

Founded in late 2016 in Fremont, California, by Jun “James” Peng and Tiancheng Lou, Pony.ai is headquartered in Guangzhou, China.