Applied Digital Co. (NASDAQ:APLD) Shares Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB boosted its holdings in Applied Digital Co. (NASDAQ:APLD) by 100.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the company’s stock after acquiring an additional 2,000 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Applied Digital were worth $31,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Applied Digital by 36.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock valued at $7,419,000 after purchasing an additional 240,554 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Applied Digital in the third quarter valued at $545,000. Exchange Traded Concepts LLC lifted its holdings in shares of Applied Digital by 37.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock valued at $7,656,000 after buying an additional 273,666 shares during the period. Barclays PLC raised its position in Applied Digital by 736.8% in the third quarter. Barclays PLC now owns 486,577 shares of the company’s stock worth $4,014,000 after acquiring an additional 428,428 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Applied Digital by 414.5% in the 4th quarter. SG Americas Securities LLC now owns 265,792 shares of the company’s stock valued at $2,031,000 after acquiring an additional 214,133 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Applied Digital

In related news, Director Richard N. Nottenburg sold 20,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the transaction, the director now owns 342,923 shares in the company, valued at approximately $3,034,868.55. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Wes Cummins sold 200,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $9.20, for a total value of $1,840,000.00. Following the completion of the transaction, the chief executive officer now owns 3,875,955 shares in the company, valued at $35,658,786. This represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,000 shares of company stock valued at $2,477,000 over the last three months. 11.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Applied Digital Price Performance

NASDAQ APLD opened at $9.11 on Friday. The company has a 50 day simple moving average of $8.43 and a 200-day simple moving average of $7.25. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -5.27 and a beta of 4.77. Applied Digital Co. has a 52-week low of $2.36 and a 52-week high of $11.25.

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

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.