CIBC Private Wealth Group LLC Acquires New Shares in Palladyne AI Corp. (NASDAQ:PDYN)

CIBC Private Wealth Group LLC bought a new position in Palladyne AI Corp. (NASDAQ:PDYN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 61,500 shares of the company’s stock, valued at approximately $755,000. CIBC Private Wealth Group LLC owned 0.20% of Palladyne AI as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp bought a new position in shares of Palladyne AI in the third quarter valued at approximately $91,000. Delta Air Lines Inc. purchased a new stake in Palladyne AI in the 3rd quarter worth approximately $676,000. Geode Capital Management LLC bought a new position in Palladyne AI in the 3rd quarter valued at $316,000. XTX Topco Ltd purchased a new position in shares of Palladyne AI during the 3rd quarter valued at $55,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Palladyne AI in the third quarter worth $29,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

Palladyne AI Trading Down 7.0 %

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

Insider Transactions at Palladyne AI

In other Palladyne AI news, CFO Trevor Thatcher sold 10,919 shares of Palladyne AI stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $5.82, for a total transaction of $63,548.58. Following the completion of the sale, the chief financial officer now owns 171,720 shares of the company’s stock, valued at $999,410.40. The trade was a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Matthew Vogt sold 14,938 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $7.03, for a total value of $105,014.14. Following the transaction, the executive now owns 96,923 shares in the company, valued at $681,368.69. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,892 shares of company stock valued at $644,817 in the last quarter. Insiders own 12.00% 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.