Geode Capital Management LLC Boosts Holdings in Palladyne AI Corp. (NASDAQ:PDYN)

Geode Capital Management LLC grew its position in shares of Palladyne AI Corp. (NASDAQ:PDYN) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 209,752 shares of the company’s stock after purchasing an additional 33,308 shares during the quarter. Geode Capital Management LLC owned approximately 0.70% of Palladyne AI worth $2,574,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Delta Air Lines Inc. purchased a new position in Palladyne AI during the 3rd quarter worth approximately $676,000. CIBC Private Wealth Group LLC purchased a new position in shares of Palladyne AI during the fourth quarter worth approximately $755,000. Raymond James Financial Inc. acquired a new position in shares of Palladyne AI in the 4th quarter valued at $645,000. State Street Corp purchased a new stake in Palladyne AI in the 3rd quarter valued at $91,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Palladyne AI during the 4th quarter worth $272,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

Palladyne AI Trading Up 2.7 %

NASDAQ PDYN opened at $6.45 on Tuesday. The business’s 50 day moving average is $6.50 and its two-hundred day moving average is $6.08. The stock has a market capitalization of $227.17 million, a price-to-earnings ratio of -2.99 and a beta of 3.78. Palladyne AI Corp. has a 12-month low of $1.26 and a 12-month high of $14.95.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Stephen Sonne sold 10,529 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $7.03, for a total value of $74,018.87. Following the sale, the insider now owns 127,218 shares in the company, valued at $894,342.54. This represents a 7.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Trevor Thatcher sold 10,919 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $5.82, for a total transaction of $63,548.58. Following the completion of the sale, the chief financial officer now directly owns 171,720 shares in the company, valued at approximately $999,410.40. The trade was a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,892 shares of company stock valued at $644,817 over the last quarter. Company insiders own 12.00% of the company’s stock.

Palladyne AI Profile

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.