Cerity Partners LLC Invests $164,000 in Palladyne AI Corp. (NASDAQ:PDYN)

Cerity Partners LLC acquired a new stake in Palladyne AI Corp. (NASDAQ:PDYN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,360 shares of the company’s stock, valued at approximately $164,000.

Other large investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Palladyne AI during the fourth quarter valued at $272,000. Geode Capital Management LLC boosted its position in shares of Palladyne AI by 18.9% during the 4th quarter. Geode Capital Management LLC now owns 209,752 shares of the company’s stock valued at $2,574,000 after purchasing an additional 33,308 shares in the last quarter. State Street Corp acquired a new stake in Palladyne AI during the third quarter worth approximately $91,000. Raymond James Financial Inc. bought a new stake in Palladyne AI in the fourth quarter worth approximately $645,000. Finally, CIBC Private Wealth Group LLC acquired a new position in Palladyne AI in the fourth quarter valued at approximately $755,000. 26.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Palladyne AI

In other Palladyne AI news, insider Stephen Sonne sold 10,529 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $7.03, for a total value of $74,018.87. Following the completion of the transaction, the insider now owns 127,218 shares in the company, valued at $894,342.54. This trade represents a 7.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Trevor Thatcher sold 10,919 shares of the business’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 transaction, the chief financial officer now directly owns 171,720 shares of the company’s stock, valued at approximately $999,410.40. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,892 shares of company stock worth $644,817. Company insiders own 12.00% of the company’s stock.

Palladyne AI Stock Performance

Palladyne AI stock opened at $6.28 on Friday. The stock has a market cap of $221.18 million, a PE ratio of -2.91 and a beta of 3.78. Palladyne AI Corp. has a fifty-two week low of $1.26 and a fifty-two week high of $14.95. The firm’s 50-day simple moving average is $6.55 and its 200 day simple moving average is $6.00.

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.