Figma Shares Indicated To Open $105/$110
Matthew Vogt, the Chief Revenue Officer of Palladyne AI Corp. (NASDAQ:PDYN), has sold a portion of his shares in the company. The transaction comes as InvestingPro data shows PDYN trading at $6.47, with the stock experiencing significant volatility, having declined nearly 23% in the past week while maintaining impressive gross profit margins of 55.2%. According to a recent SEC filing, Vogt sold 14,938 shares of Palladyne AI’s common stock on February 24, 2025, at an average price of $7.03 per share, totaling approximately $105,008. This transaction was carried out to cover income tax liabilities related to the vesting of restricted stock unit awards. Following this sale, Vogt retains ownership of 96,923 shares in the company. The shares were sold in multiple transactions, with prices ranging from $6.43 to $7.36. With a market capitalization of $207.4 million and current trading price suggesting the stock is slightly overvalued according to InvestingPro’s Fair Value model, investors can access 15+ additional exclusive insights and real-time insider trading alerts through the platform.
In other recent news, Palladyne AI Corp. reported strong financial results for 2024, achieving a 27% increase in year-over-year revenues and a 73% decrease in operating expenses. The company ended the year with $40 million in cash and marketable securities, bolstered by an additional $14.4 million raised in early 2025. Palladyne AI also secured a contract with the Air Force Research Laboratory to adapt its Pilot AI software platform to new AI computing chipsets, a project expected to enhance the capabilities of unmanned aerial vehicles. In a strategic move, the company announced the appointment of Michael Young, a former executive from Caterpillar (NYSE:CAT) and Dell (NYSE:DELL), to its Board of Directors, replacing Laura J. Peterson. Furthermore, Palladyne AI and Red Cat Holdings achieved a milestone in drone collaboration, completing a successful multi-drone flight test using Palladyne’s Pilot AI software. The company has also entered into a Sales Agreement with Jefferies LLC to sell additional shares, aiming to raise $30 million through an "at the market offering" program. These developments underscore Palladyne AI’s ongoing efforts to expand its AI software capabilities and strengthen its financial position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.