Applied Digital Corporation $APLD Shares Purchased by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC boosted its stake in Applied Digital Corporation (NASDAQ:APLD) by 15.2% in the third quarter, Holdings Channel reports. The fund owned 110,133 shares of the company’s stock after buying an additional 14,533 shares during the quarter. Uniting Wealth Partners LLC’s holdings in Applied Digital were worth $2,526,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Atlantic Union Bankshares Corp acquired a new position in shares of Applied Digital during the second quarter worth $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Applied Digital during the 2nd quarter worth $26,000. Dagco Inc. purchased a new stake in Applied Digital during the 3rd quarter worth $27,000. Evolution Wealth Management Inc. lifted its holdings in Applied Digital by 101.8% in the 3rd quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company’s stock worth $37,000 after buying an additional 807 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Applied Digital by 113.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock valued at $37,000 after buying an additional 3,542 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Insider Transactions at Applied Digital

In related news, Director Richard N. Nottenburg sold 12,000 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $425,400.00. Following the transaction, the director directly owned 233,378 shares in the company, valued at $8,273,250.10. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction on Monday, January 12th. The stock was sold at an average price of $38.54, for a total transaction of $385,400.00. Following the completion of the transaction, the director directly owned 200,859 shares of the company’s stock, valued at approximately $7,741,105.86. This represents a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 244,593 shares of company stock worth $9,003,278 in the last quarter. Insiders own 9.50% of the company’s stock.

Applied Digital Stock Down 2.5%

Shares of Applied Digital stock opened at $35.28 on Friday. The business has a 50-day moving average price of $31.87 and a 200 day moving average price of $26.34. Applied Digital Corporation has a fifty-two week low of $3.31 and a fifty-two week high of $42.27. The firm has a market cap of $9.86 billion, a P/E ratio of -65.33 and a beta of 7.25. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 1.79.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APLD. B. Riley Financial lifted their target price on Applied Digital to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Arete Research started coverage on Applied Digital in a report on Wednesday, January 7th. They issued a “buy” rating for the company. Craig Hallum lifted their price objective on Applied Digital to $39.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Roth Mkm upped their target price on Applied Digital to $58.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Northland Securities set a $56.00 target price on Applied Digital in a research note on Wednesday, January 28th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $34.73.

Applied Digital Profile

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.