Jane Street Group LLC Acquires New Holdings in Palladyne AI Corp. (NASDAQ:PDYN)

Jane Street Group LLC bought a new stake in shares of Palladyne AI Corp. (NASDAQ:PDYN - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 85,900 shares of the company's stock, valued at approximately $1,054,000. Jane Street Group LLC owned about 0.29% of Palladyne AI at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC purchased a new position in shares of Palladyne AI during the 4th quarter valued at approximately $755,000. Raymond James Financial Inc. bought a new position in Palladyne AI during the fourth quarter worth $645,000. Dimensional Fund Advisors LP bought a new position in Palladyne AI during the fourth quarter worth $126,000. Geode Capital Management LLC lifted its stake in Palladyne AI by 18.9% during the fourth quarter. Geode Capital Management LLC now owns 209,752 shares of the company's stock worth $2,574,000 after purchasing an additional 33,308 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in Palladyne AI during the fourth quarter worth $164,000. 26.02% of the stock is currently owned by hedge funds and other institutional investors.

Palladyne AI Price Performance

PDYN traded up $0.30 during trading hours on Tuesday, hitting $7.73. 2,286,655 shares of the stock were exchanged, compared to its average volume of 3,177,300. The stock has a 50-day simple moving average of $6.31 and a 200-day simple moving average of $6.69. Palladyne AI Corp. has a 12 month low of $1.38 and a 12 month high of $14.95. The stock has a market cap of $272.25 million, a price-to-earnings ratio of -3.58 and a beta of 3.77.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners started coverage on Palladyne AI in a research note on Monday, January 27th. They set a "buy" rating and a $15.00 price objective on the stock.

Insider Buying and Selling

In other Palladyne AI news, CTO Denis Garagic sold 15,653 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $7.24, for a total value of $113,327.72. Following the sale, the chief technology officer now directly owns 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 filing with the SEC, which can be accessed through this link. Also, CFO Trevor Thatcher sold 10,919 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $5.82, for a total value of $63,548.58. Following the completion of the sale, the chief financial officer now owns 171,720 shares in the company, valued at $999,410.40. The trade was a 5.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,068 shares of company stock worth $279,443 over the last ninety days. 12.00% of the stock is owned by insiders.

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.