Applied Digital Corporation $APLD Holdings Boosted by Intech Investment Management LLC

Intech Investment Management LLC raised its position in shares of Applied Digital Corporation (NASDAQ:APLD) by 35.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,099 shares of the company’s stock after purchasing an additional 19,797 shares during the quarter. Intech Investment Management LLC’s holdings in Applied Digital were worth $1,841,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Newbridge Financial Services Group Inc. grew its holdings in shares of Applied Digital by 8.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,800 shares of the company’s stock valued at $93,000 after buying an additional 300 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in Applied Digital by 1.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 21,332 shares of the company’s stock worth $523,000 after acquiring an additional 318 shares in the last quarter. Brookstone Capital Management boosted its position in Applied Digital by 3.6% during the 4th quarter. Brookstone Capital Management now owns 9,275 shares of the company’s stock worth $227,000 after acquiring an additional 321 shares during the period. ProShare Advisors LLC boosted its position in Applied Digital by 1.0% during the 3rd quarter. ProShare Advisors LLC now owns 36,652 shares of the company’s stock worth $841,000 after acquiring an additional 376 shares during the period. Finally, Independent Advisor Alliance grew its stake in Applied Digital by 4.6% during the 4th quarter. Independent Advisor Alliance now owns 9,215 shares of the company’s stock valued at $226,000 after acquiring an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Applied Digital Trading Down 1.3%

Shares of NASDAQ APLD opened at $44.15 on Friday. The stock has a market cap of $12.62 billion, a price-to-earnings ratio of -59.66 and a beta of 5.69. The business has a 50 day simple moving average of $35.96 and a 200 day simple moving average of $32.00. Applied Digital Corporation has a 52 week low of $9.02 and a 52 week high of $50.72. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38.

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

Wall Street Analysts Forecast Growth

APLD has been the topic of a number of research reports. B. Riley Financial reissued a “buy” rating and issued a $66.00 price target (up from $53.00) on shares of Applied Digital in a research report on Wednesday, May 27th. Citizens Jmp boosted their price objective on shares of Applied Digital from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Thursday, May 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Digital in a research note on Friday, April 24th. Needham & Company LLC increased their target price on shares of Applied Digital from $51.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, Compass Point reissued a “buy” rating and set a $70.00 target price on shares of Applied Digital in a research note on Friday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $59.11.

Insiders Place Their Bets

In other Applied Digital news, Director Richard N. Nottenburg sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $34.59, for a total transaction of $432,375.00. Following the completion of the sale, the director owned 208,378 shares of the company’s stock, valued at $7,207,795.02. This represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $34.98, for a total value of $349,800.00. Following the transaction, the director owned 184,859 shares in the company, valued at approximately $6,466,367.82. This trade represents a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,000 shares of company stock worth $1,182,175 in the last 90 days. 9.50% of the stock is owned by insiders.

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.