Ontario Teachers Pension Plan Board Takes Position in Pony AI Inc. (NASDAQ:PONY)

Ontario Teachers Pension Plan Board purchased a new position in shares of Pony AI Inc. (NASDAQ:PONY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,641,766 shares of the company’s stock, valued at approximately $310,559,000. Pony AI accounts for about 3.7% of Ontario Teachers Pension Plan Board’s holdings, making the stock its 7th largest position. Ontario Teachers Pension Plan Board owned about 6.20% of Pony AI at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. IDG China Venture Capital Fund IV Associates L.P. bought a new stake in shares of Pony AI in the fourth quarter worth $144,973,000. IDG China Capital Fund III Associates L.P. acquired a new stake in shares of Pony AI in the 4th quarter valued at about $93,700,000. Carlyle Group Inc. bought a new position in shares of Pony AI during the fourth quarter worth about $33,901,000. Wellington Management Group LLP acquired a new position in Pony AI in the fourth quarter worth about $19,334,000. Finally, Lingotto Investment Management LLP bought a new stake in Pony AI in the fourth quarter valued at about $17,220,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Pony AI in a research report on Tuesday, January 14th. They issued a “buy” rating and a $20.00 target price for the company. Bank of America initiated coverage on shares of Pony AI in a report on Monday, December 23rd. They issued a “buy” rating and a $18.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Pony AI in a report on Monday, December 23rd. They set a “buy” rating and a $19.60 target price on the stock.

Pony AI Stock Performance

Shares of Pony AI stock opened at $5.38 on Tuesday. Pony AI Inc. has a twelve month low of $5.22 and a twelve month high of $23.88. The business’s 50 day moving average is $12.64.

About Pony AI

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.