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

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 55,827 shares of the company’s stock in a transaction that occurred 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 sale, the chief technology officer now owns 495,978 shares in the company, valued at $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 is available through the SEC website.

Palladyne AI Stock Up 6.3 %

Shares of NASDAQ PDYN opened at $6.88 on Friday. The stock’s 50 day moving average price is $8.66 and its two-hundred day moving average price is $4.62. Palladyne AI Corp. has a 52-week low of $1.20 and a 52-week high of $14.95. The stock has a market capitalization of $207.17 million, a P/E ratio of -3.19 and a beta of 3.83.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Palladyne AI

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP acquired a new stake in shares of Palladyne AI during the 4th quarter worth approximately $126,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Palladyne AI during the 4th quarter worth approximately $129,000. Millennium Management LLC acquired a new stake in shares of Palladyne AI during the 4th quarter worth approximately $134,000. Northern Trust Corp raised its position 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 worth $390,000 after purchasing an additional 11,226 shares during the period. Finally, Man Group plc acquired a new stake in shares of Palladyne AI during the 4th quarter worth approximately $149,000. Institutional investors and hedge funds 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.