Insider Selling: Palladyne AI Corp. (NASDAQ:PDYN) CRO Sells 14,938 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) CRO Matthew Vogt sold 14,938 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $7.03, for a total value of $105,014.14. Following the completion of the transaction, the executive now directly owns 96,923 shares of the company’s stock, valued at $681,368.69. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Palladyne AI Stock Performance

Palladyne AI stock opened at $6.47 on Thursday. Palladyne AI Corp. has a fifty-two week low of $0.91 and a fifty-two week high of $14.95. The stock has a market cap of $194.82 million, a P/E ratio of -3.00 and a beta of 3.84. The firm’s fifty day moving average price is $8.58 and its 200-day moving average price is $4.61.

Institutional Trading of Palladyne AI

Several institutional investors and hedge funds have recently modified their holdings of PDYN. Dimensional Fund Advisors LP purchased a new stake in Palladyne AI in the fourth quarter valued at approximately $126,000. Cubist Systematic Strategies LLC purchased a new position in shares of Palladyne AI in the 4th quarter worth about $129,000. Millennium Management LLC bought a new position in shares of Palladyne AI during the 4th quarter valued at about $134,000. Northern Trust Corp raised its holdings in shares of Palladyne AI by 54.6% during the 4th quarter. Northern Trust Corp now owns 31,804 shares of the company’s stock valued at $390,000 after buying an additional 11,226 shares in the last quarter. Finally, Man Group plc purchased a new stake in Palladyne AI in the fourth quarter worth approximately $149,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.