Tudor Investment Corp ET AL Trims Position in Applied Digital Corporation $APLD

Tudor Investment Corp ET AL trimmed its stake in Applied Digital Corporation (NASDAQ:APLD) by 66.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 312,011 shares of the company’s stock after selling 629,997 shares during the period. Tudor Investment Corp ET AL owned about 0.11% of Applied Digital worth $7,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in APLD. Hood River Capital Management LLC raised its stake in shares of Applied Digital by 2.8% during the second quarter. Hood River Capital Management LLC now owns 21,859,031 shares of the company’s stock valued at $220,120,000 after acquiring an additional 592,314 shares in the last quarter. Vanguard Group Inc. grew its stake in Applied Digital by 23.2% in the third quarter. Vanguard Group Inc. now owns 17,722,174 shares of the company’s stock worth $406,547,000 after purchasing an additional 3,339,062 shares in the last quarter. Situational Awareness LP grew its stake in Applied Digital by 63.3% in the second quarter. Situational Awareness LP now owns 6,591,800 shares of the company’s stock worth $66,379,000 after purchasing an additional 2,556,200 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Applied Digital by 24,356.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock worth $52,561,000 after purchasing an additional 5,198,223 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Applied Digital by 20.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,199,135 shares of the company’s stock worth $73,388,000 after purchasing an additional 537,839 shares during the period. 65.67% of the stock is currently owned by institutional investors.

Applied Digital Stock Up 5.1%

Shares of NASDAQ APLD opened at $27.26 on Tuesday. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $7.62 billion, a PE ratio of -50.48 and a beta of 7.20. The stock’s fifty day simple moving average is $32.14 and its two-hundred day simple moving average is $28.93. Applied Digital Corporation has a 12-month low of $3.31 and a 12-month high of $42.27.

Insider Buying and Selling

In related news, Director Douglas S. Miller sold 10,000 shares of the company’s 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 sale, the director directly owned 200,859 shares in the company, valued at $7,741,105.86. This represents a 4.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Wes Cummins sold 165,000 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $36.42, for a total value of $6,009,300.00. Following the sale, the chief executive officer directly owned 4,176,329 shares in the company, valued at approximately $152,101,902.18. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 244,593 shares of company stock valued at $9,003,278. Company insiders own 9.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on APLD. Arete Research initiated coverage on Applied Digital in a report on Wednesday, January 7th. They issued a “buy” rating for the company. Lake Street Capital restated a “buy” rating and set a $45.00 price target on shares of Applied Digital in a research note on Tuesday, December 30th. Northland Securities set a $56.00 price objective on Applied Digital in a report on Wednesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Applied Digital in a research note on Thursday, January 8th. Finally, Roth Mkm reiterated a “buy” rating on shares of Applied Digital in a report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Applied Digital has an average rating of “Buy” and a consensus price target of $37.00.

Applied Digital Company 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.