Intech Investment Management LLC Increases Stock Holdings in Applied Digital Co. (NASDAQ:APLD)

Intech Investment Management LLC lifted its stake in shares of Applied Digital Co. (NASDAQ:APLD) by 304.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,612 shares of the company’s stock after buying an additional 42,616 shares during the quarter. Intech Investment Management LLC’s holdings in Applied Digital were worth $433,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Applied Digital by 36.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock worth $7,419,000 after acquiring an additional 240,554 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Applied Digital during the third quarter worth about $545,000. Rhumbline Advisers increased its position in shares of Applied Digital by 68.7% during the fourth quarter. Rhumbline Advisers now owns 258,892 shares of the company’s stock worth $1,978,000 after purchasing an additional 105,428 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Applied Digital by 37.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock valued at $7,656,000 after purchasing an additional 273,666 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Applied Digital by 736.8% in the 3rd quarter. Barclays PLC now owns 486,577 shares of the company’s stock valued at $4,014,000 after purchasing an additional 428,428 shares during the period. Institutional investors and hedge funds own 65.67% of the company’s stock.

Insider Transactions at Applied Digital

In related news, Director Richard N. Nottenburg sold 20,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $177,000.00. Following the sale, the director now owns 342,923 shares of the company’s stock, valued at approximately $3,034,868.55. The trade was a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.81% of the company’s stock.

Applied Digital Trading Up 13.0 %

NASDAQ APLD opened at $7.99 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $1.78 billion, a P/E ratio of -4.62 and a beta of 4.69. Applied Digital Co. has a 52-week low of $2.36 and a 52-week high of $12.48. The firm has a 50-day moving average price of $7.94 and a 200 day moving average price of $8.00.

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

Analysts Set New Price Targets

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

Applied Digital 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.