Stephen Sonne Sells 10,529 Shares of Palladyne AI Corp. (NASDAQ:PDYN) 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 value of $74,018.87. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Palladyne AI Trading Up 6.3 %

NASDAQ:PDYN opened at $6.88 on Friday. The company has a market capitalization of $207.17 million, a P/E ratio of -3.19 and a beta of 3.83. The firm has a fifty day simple moving average of $8.66 and a 200-day simple moving average of $4.62. Palladyne AI Corp. has a 12 month low of $1.20 and a 12 month high of $14.95.

Institutional Trading of Palladyne AI

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 4th quarter worth approximately $126,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Palladyne AI during the 4th quarter worth about $129,000. Millennium Management LLC purchased a new position in Palladyne AI during the fourth quarter worth approximately $134,000. Northern Trust Corp grew its stake in Palladyne AI by 54.6% in the 4th quarter. Northern Trust Corp now owns 31,804 shares of the company’s stock valued at $390,000 after acquiring an additional 11,226 shares during the period. Finally, Man Group plc purchased a new stake in shares of Palladyne AI during the fourth quarter worth about $149,000. Hedge funds and other institutional investors own 26.02% of the company’s stock.

Analyst Ratings Changes

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

About Palladyne AI

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.