LPL Financial LLC Has $1.69 Million Stake in Applied Digital Corporation $APLD

LPL Financial LLC boosted its position in shares of Applied Digital Corporation (NASDAQ:APLD) by 65.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,779 shares of the company’s stock after acquiring an additional 118,877 shares during the period. LPL Financial LLC owned 0.13% of Applied Digital worth $1,685,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. CWM LLC raised its position in shares of Applied Digital by 116.5% during the first quarter. CWM LLC now owns 9,506 shares of the company’s stock valued at $53,000 after buying an additional 5,116 shares during the last quarter. GAMMA Investing LLC raised its position in Applied Digital by 1,237.4% in the first quarter. GAMMA Investing LLC now owns 9,576 shares of the company’s stock worth $540,000 after purchasing an additional 8,860 shares in the last quarter. NewEdge Advisors LLC raised its position in Applied Digital by 143.1% in the fourth quarter. NewEdge Advisors LLC now owns 9,810 shares of the company’s stock worth $75,000 after purchasing an additional 5,775 shares in the last quarter. Semus Wealth Partners LLC acquired a new position in Applied Digital in the first quarter worth about $56,000. Finally, Envestnet Asset Management Inc. acquired a new position in Applied Digital in the fourth quarter worth about $83,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Applied Digital Price Performance

APLD opened at $15.77 on Friday. Applied Digital Corporation has a one year low of $3.01 and a one year high of $16.92. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.77 and a quick ratio of 0.77. The company’s 50 day simple moving average is $11.72 and its 200-day simple moving average is $8.66. The stock has a market capitalization of $4.12 billion, a P/E ratio of -14.47 and a beta of 6.17.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Applied Digital had a negative net margin of 107.22% and a negative return on equity of 50.03%. The firm had revenue of $38.01 million for the quarter, compared to analysts’ expectations of $42.86 million. During the same period last year, the firm earned ($0.14) earnings per share. The business’s revenue for the quarter was up 41.3% on a year-over-year basis. Sell-side analysts anticipate that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard N. Nottenburg sold 11,250 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $14.22, for a total transaction of $159,975.00. Following the sale, the director directly owned 317,987 shares in the company, valued at $4,521,775.14. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 11.81% of the company’s stock.

Analyst Ratings Changes

APLD has been the subject of several recent research reports. B. Riley increased their price target on shares of Applied Digital from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Lake Street Capital upped their price objective on shares of Applied Digital from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Citizens Jmp raised shares of Applied Digital to a “strong-buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, May 22nd. JMP Securities upped their price objective on shares of Applied Digital from $12.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Tuesday, June 3rd. Finally, Needham & Company LLC upped their price objective on shares of Applied Digital from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Applied Digital presently has a consensus rating of “Buy” and a consensus target price of $15.18.

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.