Vanguard Group Inc. Purchases 3,587,619 Shares of Applied Digital Co. (NASDAQ:APLD)

Vanguard Group Inc. lifted its position in shares of Applied Digital Co. (NASDAQ:APLD) by 39.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,760,035 shares of the company’s stock after acquiring an additional 3,587,619 shares during the period. Vanguard Group Inc. owned approximately 5.72% of Applied Digital worth $97,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. LPL Financial LLC lifted its stake in Applied Digital by 58.4% during the fourth quarter. LPL Financial LLC now owns 180,902 shares of the company’s stock worth $1,382,000 after purchasing an additional 66,683 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Applied Digital during the fourth quarter worth about $248,000. Sei Investments Co. lifted its holdings in shares of Applied Digital by 20.2% in the fourth quarter. Sei Investments Co. now owns 524,718 shares of the company’s stock worth $4,009,000 after acquiring an additional 88,090 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Applied Digital in the 4th quarter valued at approximately $12,843,000. Finally, Quantbot Technologies LP grew its holdings in shares of Applied Digital by 766.1% during the 4th quarter. Quantbot Technologies LP now owns 296,734 shares of the company’s stock valued at $2,267,000 after purchasing an additional 262,473 shares during the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

APLD has been the subject of several research reports. HC Wainwright increased 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. Compass Point initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They set a “buy” rating and a $10.00 price objective on the stock. Cantor Fitzgerald dropped their target price on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Northland Securities lifted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Applied Digital in a research report on Monday, February 24th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital currently has an average rating of “Buy” and a consensus price target of $12.11.

Applied Digital Trading Up 8.7 %

Shares of APLD stock opened at $5.52 on Thursday. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50 day simple moving average of $7.25 and a two-hundred day simple moving average of $7.95. The company has a market cap of $1.23 billion, a P/E ratio of -3.19 and a beta of 5.18.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.08. The firm had revenue of $63.87 million for 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 business’s quarterly revenue was up 51.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.

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.