Charles Schwab Investment Management Inc. Has $13.74 Million Position in Applied Digital Co. (NASDAQ:APLD)

Charles Schwab Investment Management Inc. increased its stake in shares of Applied Digital Co. (NASDAQ:APLD) by 100.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,798,431 shares of the company’s stock after purchasing an additional 899,138 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Applied Digital were worth $13,740,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB lifted its stake in Applied Digital by 100.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company’s stock valued at $31,000 after acquiring an additional 2,000 shares during the last quarter. R Squared Ltd acquired a new stake in Applied Digital in the fourth quarter valued at approximately $36,000. US Bancorp DE acquired a new stake in Applied Digital in the fourth quarter valued at approximately $37,000. Jones Financial Companies Lllp acquired a new stake in Applied Digital in the fourth quarter valued at approximately $39,000. Finally, Spire Wealth Management acquired a new stake in Applied Digital in the fourth quarter valued at approximately $43,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Trading Down 3.0 %

NASDAQ APLD opened at $7.07 on Friday. The company has a market cap of $1.58 billion, a PE ratio of -4.09 and a beta of 4.69. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $12.48. The stock has a 50 day moving average of $7.93 and a 200-day moving average of $7.91.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business had revenue of $63.87 million during the quarter, compared to the consensus estimate of $62.41 million. During the same quarter last year, the firm posted ($0.05) EPS. The company’s quarterly revenue was up 51.3% on a year-over-year basis. On average, equities research analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on APLD shares. Compass Point started coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price objective for the company. Northland Securities boosted their price objective on shares of Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald reduced their price objective on shares of Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Applied Digital in a research note on Monday, February 24th. Finally, HC Wainwright boosted their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital presently has a consensus rating of “Buy” and an average price target of $12.11.

Insider Buying and Selling

In other news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $177,000.00. Following the sale, the director now directly owns 342,923 shares of the company’s stock, valued at approximately $3,034,868.55. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.81% of the stock is owned by company insiders.

About Applied Digital

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.