SBI Securities Co. Ltd. Buys 10,599 Shares of Palladyne AI Corp. (NASDAQ:PDYN)

SBI Securities Co. Ltd. boosted its holdings in shares of Palladyne AI Corp. (NASDAQ:PDYN) by 47.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 32,803 shares of the company’s stock after purchasing an additional 10,599 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Palladyne AI were worth $193,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP acquired a new position in Palladyne AI in the 4th quarter valued at about $126,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Palladyne AI during the fourth quarter worth approximately $129,000. Millennium Management LLC bought a new stake in shares of Palladyne AI during the 4th quarter valued at about $134,000. Man Group plc bought a new position in Palladyne AI in the 4th quarter worth approximately $149,000. Finally, Cerity Partners LLC acquired a new stake in Palladyne AI in the 4th quarter valued at about $164,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Palladyne AI from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th.

Insider Buying and Selling

In other Palladyne AI news, CTO Denis Garagic sold 15,653 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $7.24, for a total value of $113,327.72. Following the completion of the transaction, the chief technology officer directly owned 598,668 shares in the company, valued at approximately $4,334,356.32. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kristi Martindale sold 6,772 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $7.24, for a total transaction of $49,029.28. Following the completion of the transaction, the insider owned 318,307 shares in the company, valued at approximately $2,304,542.68. The trade was a 2.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,470 shares of company stock worth $206,123 in the last three months. 13.40% of the stock is currently owned by company insiders.

Palladyne AI Price Performance

PDYN opened at $12.68 on Friday. The company has a market capitalization of $446.59 million, a price-to-earnings ratio of -6.78 and a beta of 3.77. Palladyne AI Corp. has a 1 year low of $1.38 and a 1 year high of $14.95. The business’s 50-day moving average price is $8.19 and its two-hundred day moving average price is $7.76.

Palladyne AI 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.