Palladyne AI Corp. (NASDAQ:PDYN) Insider Stephen Sonne Sells 10,529 Shares of Stock

Palladyne AI Corp. (NASDAQ:PDYN) insider Stephen Sonne sold 10,529 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 $74,018.87. Following the completion of the transaction, the insider now owns 127,218 shares of the company’s stock, valued at $894,342.54. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Palladyne AI Price Performance

Shares of NASDAQ:PDYN opened at $6.47 on Thursday. Palladyne AI Corp. has a 1-year low of $0.91 and a 1-year high of $14.95. The company has a market capitalization of $194.82 million, a P/E ratio of -3.00 and a beta of 3.84. The firm’s 50 day simple moving average is $8.58 and its two-hundred day simple moving average is $4.61.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners began coverage on shares of Palladyne AI in a research note on Monday, January 27th. They issued a “buy” rating and a $15.00 price target for the company.

Hedge Funds Weigh In On Palladyne AI

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new position in Palladyne AI during the fourth quarter valued at approximately $126,000. Cubist Systematic Strategies LLC purchased a new position in Palladyne AI during the fourth quarter valued at approximately $129,000. Millennium Management LLC purchased a new position in Palladyne AI during the fourth quarter valued at approximately $134,000. Northern Trust Corp raised its position in shares of Palladyne AI by 54.6% during the fourth 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 during the last quarter. Finally, Man Group plc bought a new stake in shares of Palladyne AI during the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

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.