Geode Capital Management LLC Invests $316,000 in Palladyne AI Corp. (NASDAQ:PDYN)

Geode Capital Management LLC acquired a new position in shares of Palladyne AI Corp. (NASDAQ:PDYN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 176,444 shares of the company’s stock, valued at approximately $316,000. Geode Capital Management LLC owned 0.66% of Palladyne AI at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. acquired a new stake in shares of Palladyne AI during the 3rd quarter worth approximately $29,000. XTX Topco Ltd acquired a new stake in shares of Palladyne AI during the 3rd quarter worth approximately $55,000. State Street Corp acquired a new stake in shares of Palladyne AI during the 3rd quarter worth approximately $91,000. Finally, Pursue Wealth Partners LLC acquired a new stake in shares of Palladyne AI during the 3rd quarter worth approximately $168,000. Institutional investors and hedge funds own 26.02% of the company’s stock.

Insider Activity at Palladyne AI

In related news, Director Dennis M. Weibling purchased 215,053 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were purchased at an average price of $2.20 per share, with a total value of $473,116.60. Following the purchase, the director now owns 389,884 shares of the company’s stock, valued at $857,744.80. The trade was a 123.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.00% of the stock is owned by corporate insiders.

Palladyne AI Stock Performance

Palladyne AI stock opened at $7.24 on Tuesday. The company’s fifty day moving average price is $5.24 and its 200 day moving average price is $3.06. Palladyne AI Corp. has a 1 year low of $0.45 and a 1 year high of $14.95. The stock has a market capitalization of $218.01 million, a P/E ratio of -3.35 and a beta of 3.90.

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.