Raymond James Financial Inc. Makes New $645,000 Investment in Palladyne AI Corp. (NASDAQ:PDYN)

Raymond James Financial Inc. purchased a new stake in shares of Palladyne AI Corp. (NASDAQ:PDYN) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 52,574 shares of the company’s stock, valued at approximately $645,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. bought a new stake in shares of Palladyne AI during the 3rd quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new position in Palladyne AI during the 4th quarter valued at about $272,000. XTX Topco Ltd bought a new stake in Palladyne AI during the third quarter worth about $55,000. State Street Corp purchased a new stake in Palladyne AI in the third quarter worth about $91,000. Finally, Geode Capital Management LLC bought a new position in shares of Palladyne AI during the third quarter valued at approximately $316,000. 26.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners started coverage on Palladyne AI in a research report on Monday, January 27th. They issued a “buy” rating and a $15.00 price target on the stock.

Insider Buying and Selling at Palladyne AI

In other news, CTO Denis Garagic sold 55,827 shares of the business’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 $392,463.81. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Sonne sold 10,529 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $7.03, for a total value of $74,018.87. Following the sale, the insider now directly owns 127,218 shares in the company, valued at $894,342.54. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,892 shares of company stock worth $644,817. 12.00% of the stock is owned by corporate insiders.

Palladyne AI Price Performance

PDYN opened at $5.61 on Monday. The firm has a market cap of $197.58 million, a PE ratio of -2.60 and a beta of 3.88. The stock has a 50-day moving average price of $7.72 and a 200-day moving average price of $5.61. Palladyne AI Corp. has a 1 year low of $1.26 and a 1 year high of $14.95.

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.