Applied Digital Corporation $APLD Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Applied Digital Corporation (NASDAQ:APLD) by 5.1% in the 4th quarter, Holdings Channel reports. The firm owned 6,285,820 shares of the company’s stock after purchasing an additional 304,228 shares during the period. Geode Capital Management LLC’s holdings in Applied Digital were worth $154,151,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of APLD. AQR Capital Management LLC grew its stake in shares of Applied Digital by 84.8% in the first quarter. AQR Capital Management LLC now owns 18,945 shares of the company’s stock worth $106,000 after acquiring an additional 8,692 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Applied Digital by 239.1% in the first quarter. NewEdge Advisors LLC now owns 33,267 shares of the company’s stock worth $187,000 after acquiring an additional 23,457 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Applied Digital by 113.3% in the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock worth $37,000 after acquiring an additional 3,542 shares in the last quarter. Strs Ohio acquired a new position in shares of Applied Digital in the first quarter worth $71,000. Finally, Cetera Investment Advisers grew its stake in shares of Applied Digital by 61.0% in the second quarter. Cetera Investment Advisers now owns 61,656 shares of the company’s stock worth $621,000 after acquiring an additional 23,360 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on APLD shares. Citizens Jmp boosted their price target on shares of Applied Digital from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 21st. Needham & Company LLC boosted their price target on shares of Applied Digital from $51.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Wall Street Zen downgraded shares of Applied Digital from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Lucid Cap Mkts upgraded shares of Applied Digital to a “strong-buy” rating in a research note on Wednesday, May 27th. Finally, Compass Point restated a “buy” rating and issued a $70.00 price target on shares of Applied Digital in a research note on Friday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $59.11.

Insider Buying and Selling at Applied Digital

In other news, Director Richard N. Nottenburg sold 12,500 shares of Applied Digital stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $34.59, for a total transaction of $432,375.00. Following the completion of the sale, the director directly owned 208,378 shares of the company’s stock, valued at approximately $7,207,795.02. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction on Monday, April 27th. The stock was sold at an average price of $34.98, for a total transaction of $349,800.00. Following the sale, the director directly owned 184,859 shares of the company’s stock, valued at approximately $6,466,367.82. This trade represents a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 35,000 shares of company stock valued at $1,182,175. Corporate insiders own 9.50% of the company’s stock.

Applied Digital Price Performance

Applied Digital stock opened at $44.75 on Thursday. The stock has a market cap of $12.79 billion, a P/E ratio of -60.47 and a beta of 5.69. The company has a fifty day simple moving average of $35.61 and a 200-day simple moving average of $31.86. Applied Digital Corporation has a 12-month low of $9.02 and a 12-month high of $50.72. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.65.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings data on Wednesday, April 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.23). The firm had revenue of $108.55 million for the quarter, compared to analysts’ expectations of $78.47 million. Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.Applied Digital’s revenue for the quarter was up 139.3% on a year-over-year basis. During the same period last year, the firm posted ($0.08) earnings per share. Equities analysts expect that Applied Digital Corporation will post -0.68 EPS for the current fiscal year.

About Applied Digital

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.