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

Raymond James Financial Inc. acquired a new position in shares of Palladyne AI Corp. (NASDAQ:PDYN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 also recently added to or reduced their stakes in the company. Geode Capital Management LLC purchased a new position in Palladyne AI during the 3rd quarter worth $316,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Palladyne AI in the fourth quarter valued at about $755,000. Cerity Partners LLC purchased a new stake in shares of Palladyne AI in the fourth quarter valued at about $164,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Palladyne AI in the fourth quarter valued at about $272,000. Institutional investors and hedge funds own 26.02% of the company's stock.

Insider Activity at Palladyne AI

In related news, CRO Matthew Vogt sold 14,938 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $7.03, for a total value of $105,014.14. Following the completion of the sale, the executive now directly owns 96,923 shares in the company, valued at approximately $681,368.69. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Trevor Thatcher sold 10,919 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $5.82, for a total transaction of $63,548.58. Following the sale, the chief financial officer now owns 171,720 shares of the company's stock, valued at approximately $999,410.40. This represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,892 shares of company stock worth $644,817. 12.00% of the stock is owned by company insiders.

Palladyne AI Stock Up 0.2%

Shares of NASDAQ:PDYN traded up $0.01 during trading on Tuesday, reaching $6.21. The stock had a trading volume of 633,482 shares, compared to its average volume of 3,088,810. Palladyne AI Corp. has a fifty-two week low of $1.29 and a fifty-two week high of $14.95. The business has a fifty day moving average price of $6.33 and a 200-day moving average price of $6.35. The stock has a market cap of $218.72 million, a P/E ratio of -2.88 and a beta of 3.77.

Analysts Set New Price Targets

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