Palladyne AI (NASDAQ:PDYN) CTO Sells $109,882.78 in Stock

Palladyne AI Corp. (NASDAQ:PDYN) CTO Denis Garagic sold 14,809 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $7.42, for a total transaction of $109,882.78. Following the sale, the chief technology officer directly owned 584,859 shares of the company’s stock, valued at approximately $4,339,653.78. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Palladyne AI Price Performance

PDYN stock opened at $7.67 on Friday. Palladyne AI Corp. has a 12 month low of $1.38 and a 12 month high of $14.95. The firm has a market cap of $321.76 million, a PE ratio of -4.10 and a beta of 3.76. The firm has a 50 day simple moving average of $8.68 and a 200 day simple moving average of $7.67.

Institutional Investors Weigh In On Palladyne AI

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new stake in shares of Palladyne AI during the first quarter valued at approximately $35,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Palladyne AI during the second quarter valued at approximately $51,000. Covestor Ltd raised its holdings in shares of Palladyne AI by 5,657.0% during the first quarter. Covestor Ltd now owns 14,047 shares of the company’s stock valued at $83,000 after acquiring an additional 13,803 shares during the period. New York State Common Retirement Fund acquired a new stake in shares of Palladyne AI during the second quarter valued at approximately $92,000. Finally, BNP Paribas Financial Markets lifted its position in Palladyne AI by 136.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,759 shares of the company’s stock worth $93,000 after buying an additional 6,213 shares in the last quarter. Institutional investors and hedge funds own 26.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Palladyne AI from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.00.

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.