Semus Wealth Partners LLC Acquires New Stake in Applied Digital Corporation (NASDAQ:APLD)

Semus Wealth Partners LLC acquired a new stake in shares of Applied Digital Corporation (NASDAQ:APLD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the company’s stock, valued at approximately $56,000.

Several other large investors also recently added to or reduced their stakes in APLD. Hood River Capital Management LLC lifted its stake in Applied Digital by 10.7% during the fourth quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company’s stock worth $115,726,000 after purchasing an additional 1,464,854 shares during the last quarter. Vanguard Group Inc. lifted its stake in Applied Digital by 39.1% during the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company’s stock worth $97,487,000 after purchasing an additional 3,587,619 shares during the last quarter. Geode Capital Management LLC lifted its stake in Applied Digital by 54.4% during the fourth quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company’s stock worth $36,117,000 after purchasing an additional 1,665,335 shares during the last quarter. Pertento Partners LLP lifted its stake in Applied Digital by 49.0% during the fourth quarter. Pertento Partners LLP now owns 2,528,717 shares of the company’s stock worth $19,319,000 after purchasing an additional 831,705 shares during the last quarter. Finally, Think Investments LP lifted its stake in Applied Digital by 27.3% during the fourth quarter. Think Investments LP now owns 2,060,136 shares of the company’s stock worth $15,739,000 after purchasing an additional 441,291 shares during the last quarter. Institutional investors own 65.67% of the company’s stock.

Applied Digital Price Performance

NASDAQ APLD opened at $10.75 on Friday. The business’s fifty day moving average price is $10.06 and its 200-day moving average price is $7.90. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -7.85 and a beta of 6.04. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.70 and a quick ratio of 0.70. Applied Digital Corporation has a 1-year low of $3.01 and a 1-year high of $15.42.

Insider Buying and Selling at Applied Digital

In related news, Director Rachel H. Lee sold 24,212 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $7.00, for a total value of $169,484.00. Following the transaction, the director directly owned 83,613 shares of the company’s stock, valued at approximately $585,291. This trade represents a 22.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.81% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on APLD shares. Cantor Fitzgerald lowered their target price on Applied Digital from $14.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. HC Wainwright boosted their target price on Applied Digital from $7.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, June 3rd. JMP Securities boosted their target price on Applied Digital from $12.00 to $18.00 and gave the company a “market outperform” rating in a research note on Tuesday, June 3rd. Roth Capital reissued a “buy” rating on shares of Applied Digital in a research note on Monday, June 2nd. Finally, B. Riley boosted their price target on Applied Digital from $8.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $12.73.

Applied Digital Company Profile

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.