IDG China Capital Fund III Associates L.P. Takes $93.70 Million Position in Pony AI Inc. (NASDAQ:PONY)

IDG China Capital Fund III Associates L.P. purchased a new stake in shares of Pony AI Inc. (NASDAQ:PONY) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 6,529,589 shares of the company’s stock, valued at approximately $93,700,000. Pony AI comprises 93.3% of IDG China Capital Fund III Associates L.P.’s investment portfolio, making the stock its largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Pony AI during the 4th quarter worth approximately $281,000. Neumann Advisory Hong Kong Ltd acquired a new position in shares of Pony AI during the 4th quarter worth approximately $14,808,000. Matthews International Capital Management LLC acquired a new position in shares of Pony AI during the 4th quarter worth approximately $1,654,000. Robeco Schweiz AG acquired a new position in shares of Pony AI during the 4th quarter worth approximately $8,811,000. Finally, Lingotto Investment Management LLP acquired a new position in shares of Pony AI during the 4th quarter worth approximately $17,220,000.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PONY shares. The Goldman Sachs Group started coverage on Pony AI in a research report on Monday, December 23rd. They set a “buy” rating and a $19.60 price objective for the company. Bank of America initiated coverage on Pony AI in a research report on Monday, December 23rd. They set a “buy” rating and a $18.00 price objective for the company. Finally, 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 for the company.

Pony AI Price Performance

PONY stock opened at $16.07 on Monday. Pony AI Inc. has a one year low of $11.90 and a one year high of $23.88. The stock has a 50 day moving average price of $14.82.

Pony AI Company Profile

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.