61,500 Shares in Palladyne AI Corp. (NASDAQ:PDYN) Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC purchased a new stake in shares of Palladyne AI Corp. (NASDAQ:PDYN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 61,500 shares of the company’s stock, valued at approximately $755,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Palladyne AI during the 4th quarter valued at about $645,000. SBI Securities Co. Ltd. purchased a new stake in shares of Palladyne AI during the fourth quarter valued at approximately $272,000. Delta Air Lines Inc. purchased a new stake in shares of Palladyne AI during the third quarter valued at approximately $676,000. Geode Capital Management LLC bought a new position in shares of Palladyne AI in the third quarter worth approximately $316,000. Finally, XTX Topco Ltd purchased a new position in shares of Palladyne AI in the third quarter worth $55,000. 26.02% of the stock is owned by institutional investors.

Palladyne AI Price Performance

Shares of NASDAQ:PDYN opened at $5.61 on Friday. The stock’s 50-day moving average is $7.72 and its 200 day moving average is $5.55. The company has a market cap of $197.58 million, a PE ratio of -2.60 and a beta of 3.88. Palladyne AI Corp. has a 1 year low of $1.26 and a 1 year high of $14.95.

Analysts Set New Price Targets

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

Insider Transactions at Palladyne AI

In related news, insider Stephen Sonne sold 10,529 shares of Palladyne AI stock in a transaction on Monday, February 24th. The shares were 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. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Denis Garagic sold 55,827 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $7.03, for a total transaction of $392,463.81. Following the completion of the transaction, the chief technology officer now owns 495,978 shares of the company’s stock, valued at $3,486,725.34. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,892 shares of company stock worth $644,817. 12.00% of the stock is currently owned by insiders.

Palladyne AI Company 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.