Insider Selling: Palladyne AI Corp. (NASDAQ:PDYN) CTO Sells 55,827 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 55,827 shares of Palladyne AI stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $7.03, for a total value of $392,463.81. Following the transaction, the chief technology officer now directly owns 495,978 shares in the company, valued at approximately $3,486,725.34. The trade was a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Palladyne AI Stock Performance

Shares of PDYN stock opened at $6.47 on Thursday. Palladyne AI Corp. has a 52-week low of $0.91 and a 52-week high of $14.95. The company has a 50-day simple moving average of $8.58 and a two-hundred day simple moving average of $4.61. The company has a market capitalization of $194.82 million, a price-to-earnings ratio of -3.00 and a beta of 3.84.

Analyst Ratings Changes

Separately, Alliance Global Partners initiated coverage on shares of Palladyne AI in a report on Monday, January 27th. They set a “buy” rating and a $15.00 price objective on the stock.

Hedge Funds Weigh In On Palladyne AI

Several institutional investors have recently modified their holdings of the business. Delta Air Lines Inc. bought a new stake in Palladyne AI during the third quarter worth $676,000. Geode Capital Management LLC raised its stake in shares of Palladyne AI by 18.9% during the 4th quarter. Geode Capital Management LLC now owns 209,752 shares of the company’s stock worth $2,574,000 after purchasing an additional 33,308 shares during the period. Soviero Asset Management LP purchased a new position in shares of Palladyne AI in the 4th quarter worth about $1,227,000. Pursue Wealth Partners LLC bought a new position in Palladyne AI during the third quarter valued at about $168,000. Finally, Jane Street Group LLC purchased a new position in Palladyne AI in the fourth quarter valued at about $1,054,000. 26.02% of the stock is owned by institutional investors.

About Palladyne AI

Palladyne AI Corp., a software company, focuses on delivering software that enhances the utility and functionality of third-party stationary and mobile robotic systems in the United States. Its Artificial Intelligence (AI)/ Machine Learning (ML) software platform enables robots to observe, learn, reason, and act in structured and unstructured environments.