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

Raymond James Financial Inc. bought a new stake in Palladyne AI Corp. (NASDAQ:PDYN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 52,574 shares of the company's stock, valued at approximately $645,000. Raymond James Financial Inc. owned 0.17% of Palladyne AI as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PDYN. Delta Air Lines Inc. acquired a new stake in shares of Palladyne AI during the 3rd quarter worth approximately $676,000. Geode Capital Management LLC bought a new stake in Palladyne AI during the third quarter worth $316,000. State Street Corp bought a new stake in Palladyne AI during the third quarter worth $91,000. XTX Topco Ltd acquired a new stake in shares of Palladyne AI in the 3rd quarter valued at $55,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Palladyne AI in the 4th quarter valued at $272,000. 26.02% of the stock is currently owned by institutional investors and hedge funds.

Palladyne AI Stock Performance

Shares of PDYN traded up $0.34 during mid-day trading on Friday, reaching $6.21. The company had a trading volume of 505,133 shares, compared to its average volume of 3,036,122. The company's 50 day simple moving average is $7.34 and its 200 day simple moving average is $5.75. The company has a market capitalization of $218.72 million, a price-to-earnings ratio of -2.88 and a beta of 3.78. Palladyne AI Corp. has a 1-year low of $1.26 and a 1-year high of $14.95.

Insider Activity at Palladyne AI

In other news, CRO Matthew Vogt sold 14,938 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $7.03, for a total transaction of $105,014.14. Following 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 SEC, which is accessible through the SEC website. Also, CFO Trevor Thatcher sold 10,919 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $5.82, for a total transaction of $63,548.58. Following the completion of the transaction, the chief financial officer now owns 171,720 shares of the company's stock, valued at approximately $999,410.40. This trade represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,892 shares of company stock valued at $644,817 in the last quarter. Insiders own 12.00% of the company's stock.

Analyst Upgrades and Downgrades

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

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.