Palladyne AI Corp. (NASDAQ:PDYN) Position Reduced by NewEdge Advisors LLC

NewEdge Advisors LLC trimmed its holdings in shares of Palladyne AI Corp. (NASDAQ:PDYN) by 44.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,940 shares of the company’s stock after selling 3,999 shares during the quarter. NewEdge Advisors LLC’s holdings in Palladyne AI were worth $61,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PDYN. Raymond James Financial Inc. bought a new stake in shares of Palladyne AI during the fourth quarter valued at approximately $645,000. Cerity Partners LLC bought a new position in Palladyne AI during the fourth quarter worth about $164,000. Geode Capital Management LLC boosted its holdings in Palladyne AI by 18.9% during the fourth quarter. Geode Capital Management LLC now owns 209,752 shares of the company’s stock valued at $2,574,000 after purchasing an additional 33,308 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Palladyne AI in the 4th quarter valued at approximately $755,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Palladyne AI during the 4th quarter worth approximately $272,000. 26.02% of the stock is currently owned by institutional investors.

Insider Transactions at Palladyne AI

In related news, CTO Denis Garagic sold 55,827 shares of the company’s stock in a transaction 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 completion of the sale, the chief technology officer now owns 495,978 shares in the company, valued at $3,486,725.34. This represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Trevor Thatcher sold 10,919 shares of Palladyne AI stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $5.82, for a total value of $63,548.58. Following the transaction, the chief financial officer now owns 171,720 shares in the company, valued at approximately $999,410.40. This represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,892 shares of company stock worth $644,817 over the last 90 days. 12.00% of the stock is owned by insiders.

Palladyne AI Price Performance

NASDAQ PDYN opened at $6.25 on Friday. The stock’s 50 day simple moving average is $6.42 and its 200 day simple moving average is $6.16. Palladyne AI Corp. has a one year low of $1.26 and a one year high of $14.95. The firm has a market cap of $220.13 million, a PE ratio of -2.89 and a beta of 3.77.

Analyst Ratings Changes

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

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.