Schonfeld Strategic Advisors LLC Takes Position in Palladyne AI Corp. (NASDAQ:PDYN)

Schonfeld Strategic Advisors LLC bought a new stake in shares of Palladyne AI Corp. (NASDAQ:PDYN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 15,400 shares of the company’s stock, valued at approximately $189,000.

Several other hedge funds also recently modified their holdings of the business. Northern Trust Corp grew its holdings in shares of Palladyne AI by 54.6% during the 4th quarter. Northern Trust Corp now owns 31,804 shares of the company’s stock worth $390,000 after purchasing an additional 11,226 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Palladyne AI during the 4th quarter valued at about $126,000. Raymond James Financial Inc. acquired a new position in shares of Palladyne AI in the 4th quarter worth approximately $645,000. Cerity Partners LLC acquired a new position in Palladyne AI in the fourth quarter worth $164,000. Finally, Geode Capital Management LLC grew its holdings in Palladyne AI by 18.9% during the 4th quarter. Geode Capital Management LLC now owns 209,752 shares of the company’s stock worth $2,574,000 after acquiring an additional 33,308 shares during the last quarter. 26.02% of the stock is owned by institutional investors.

Insider Activity at Palladyne AI

In other news, CFO Trevor Thatcher sold 10,919 shares of the company’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 value of $63,548.58. Following the completion of the transaction, the chief financial officer now owns 171,720 shares in the company, valued at $999,410.40. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Matthew Vogt sold 14,938 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $7.03, for a total value of $105,014.14. Following the transaction, the executive now owns 96,923 shares of the company’s stock, valued at approximately $681,368.69. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,892 shares of company stock worth $644,817. 12.00% of the stock is currently owned by company insiders.

Palladyne AI Stock Down 4.2%

NASDAQ:PDYN opened at $5.94 on Wednesday. The firm has a market capitalization of $209.21 million, a P/E ratio of -2.75 and a beta of 3.77. The stock’s fifty day simple moving average is $6.30 and its 200-day simple moving average is $6.35. Palladyne AI Corp. has a 12-month low of $1.30 and a 12-month high of $14.95.

Analyst Upgrades and Downgrades

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

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.