Applied Digital Corporation $APLD Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its position in shares of Applied Digital Corporation (NASDAQ:APLD) by 10.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,252 shares of the company’s stock after purchasing an additional 2,515 shares during the quarter. Teacher Retirement System of Texas’ holdings in Applied Digital were worth $274,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Scientech Research LLC bought a new position in shares of Applied Digital in the 1st quarter worth about $806,000. Chelsea Counsel Co. bought a new stake in shares of Applied Digital during the 2nd quarter valued at about $582,000. Lake Hills Wealth Management LLC acquired a new stake in Applied Digital during the second quarter worth about $184,000. KLP Kapitalforvaltning AS lifted its holdings in Applied Digital by 27.7% in the second quarter. KLP Kapitalforvaltning AS now owns 41,500 shares of the company’s stock worth $418,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Partners Capital Investment Group LLP acquired a new position in Applied Digital in the first quarter valued at approximately $8,673,000. Institutional investors own 65.67% of the company’s stock.

Insider Activity at Applied Digital

In related news, Director Rachel H. Lee sold 24,213 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $33.20, for a total transaction of $803,871.60. Following the sale, the director owned 59,400 shares of the company’s stock, valued at $1,972,080. The trade was a 28.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chuck Hastings sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $34.27, for a total value of $856,750.00. Following the completion of the sale, the director owned 426,612 shares of the company’s stock, valued at $14,619,993.24. This trade represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 823,035 shares of company stock worth $18,930,179 in the last three months. Insiders own 9.50% of the company’s stock.

Applied Digital Trading Down 9.1%

Shares of APLD stock opened at $28.57 on Wednesday. Applied Digital Corporation has a 1 year low of $3.31 and a 1 year high of $40.20. The firm has a market capitalization of $8.13 billion, a PE ratio of -25.28 and a beta of 6.77. The stock has a fifty day moving average of $26.89 and a two-hundred day moving average of $16.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.65 and a current ratio of 0.65.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings results on Thursday, October 9th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.08. The company had revenue of $38.01 million for the quarter, compared to analyst estimates of $52.25 million. Applied Digital had a negative return on equity of 37.14% and a negative net margin of 111.29%.The company’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period last year, the company earned ($0.15) earnings per share. As a group, research analysts expect that Applied Digital Corporation will post -0.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on APLD shares. Citigroup reiterated an “outperform” rating on shares of Applied Digital in a research report on Thursday, October 9th. Lake Street Capital upped their price objective on Applied Digital from $18.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. B. Riley reiterated a “buy” rating on shares of Applied Digital in a research note on Wednesday, October 22nd. Northland Securities boosted their price target on shares of Applied Digital to $40.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Finally, Wall Street Zen cut shares of Applied Digital from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.20.

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.