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

Raymond James Financial Inc. acquired a new stake in Palladyne AI Corp. (NASDAQ:PDYN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 52,574 shares of the company's stock, valued at approximately $645,000. Raymond James Financial Inc. owned approximately 0.17% of Palladyne AI at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC acquired a new stake in Palladyne AI in the third quarter valued at approximately $316,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Palladyne AI in the 4th quarter valued at approximately $755,000. SBI Securities Co. Ltd. acquired a new stake in shares of Palladyne AI in the 4th quarter valued at $272,000. Finally, Cerity Partners LLC purchased a new stake in shares of Palladyne AI during the 4th quarter worth $164,000. 26.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners began coverage on Palladyne AI in a report on Monday, January 27th. They set a "buy" rating and a $15.00 price target for the company.

Insider Buying and Selling at Palladyne AI

In related news, CRO Matthew Vogt sold 14,938 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 transaction of $105,014.14. Following the completion of the sale, the executive now owns 96,923 shares in the company, valued at $681,368.69. This represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Sonne sold 10,529 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $7.03, for a total transaction of $74,018.87. Following the transaction, the insider now directly owns 127,218 shares in the company, valued at $894,342.54. The trade was a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,892 shares of company stock worth $644,817 over the last 90 days. Corporate insiders own 12.00% of the company's stock.

Palladyne AI Trading Down 2.9 %

Shares of NASDAQ:PDYN opened at $5.68 on Thursday. The firm has a 50 day simple moving average of $6.38 and a 200-day simple moving average of $6.21. Palladyne AI Corp. has a twelve month low of $1.26 and a twelve month high of $14.95. The company has a market capitalization of $200.05 million, a PE ratio of -2.63 and a beta of 3.77.

Palladyne AI 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.

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