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

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 55,827 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $7.03, for a total value of $392,463.81. Following the sale, the chief technology officer now 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Palladyne AI Stock Up 9.8 %

Shares of NASDAQ PDYN opened at $6.47 on Thursday. The firm has a market cap of $194.82 million, a PE ratio of -3.00 and a beta of 3.84. The company’s fifty day simple moving average is $8.58 and its 200 day simple moving average is $4.61. Palladyne AI Corp. has a 12-month low of $0.91 and a 12-month high of $14.95.

Wall Street Analyst Weigh In

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 target on the stock.

Institutional Trading of Palladyne AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pursue Wealth Partners LLC bought a new position in Palladyne AI in the third quarter worth approximately $168,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Palladyne AI during the third quarter worth approximately $29,000. State Street Corp acquired a new position in shares of Palladyne AI during the third quarter worth approximately $91,000. XTX Topco Ltd bought a new position in shares of Palladyne AI in the 3rd quarter worth $55,000. Finally, Geode Capital Management LLC acquired a new stake in Palladyne AI in the 3rd quarter valued at $316,000. 26.02% of the stock is owned by institutional investors.

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.