CIBC Private Wealth Group LLC Purchases Shares of 61,500 Palladyne AI Corp. (NASDAQ:PDYN)

CIBC Private Wealth Group LLC acquired a new stake in Palladyne AI Corp. (NASDAQ:PDYN - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 61,500 shares of the company's stock, valued at approximately $755,000. CIBC Private Wealth Group LLC owned 0.20% of Palladyne AI as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PDYN. Charles Schwab Investment Management Inc. acquired a new position in Palladyne AI in the 3rd quarter valued at approximately $29,000. State Street Corp acquired a new position in Palladyne AI during the 3rd quarter worth $91,000. XTX Topco Ltd bought a new position in Palladyne AI in the third quarter valued at about $55,000. Geode Capital Management LLC acquired a new stake in shares of Palladyne AI during the 3rd quarter worth approximately $316,000. Finally, Delta Air Lines Inc. bought a new stake in shares of Palladyne AI during the 3rd quarter valued at $676,000. 26.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palladyne AI

In other news, insider Stephen Sonne sold 10,529 shares of the company'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 completion of the sale, the insider now directly owns 127,218 shares in the company, valued at approximately $894,342.54. This represents a 7.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Denis Garagic sold 55,827 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 transaction of $392,463.81. Following the transaction, the chief technology officer now owns 495,978 shares of the company's stock, valued at approximately $3,486,725.34. This represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,892 shares of company stock worth $644,817 over the last ninety days. Insiders own 12.00% of the company's stock.

Palladyne AI Trading Up 11.4 %

Shares of Palladyne AI stock traded up $0.63 on Wednesday, reaching $6.15. 1,282,460 shares of the company were exchanged, compared to its average volume of 3,033,931. The company has a 50-day moving average of $7.41 and a 200 day moving average of $5.69. Palladyne AI Corp. has a one year low of $1.26 and a one year high of $14.95. The company has a market capitalization of $216.60 million, a price-to-earnings ratio of -2.85 and a beta of 3.78.

Wall Street Analyst Weigh In

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 objective on the stock.

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.