Deutsche Bank AG Sells 507,354 Shares of Applied Digital Corporation $APLD

Deutsche Bank AG reduced its holdings in shares of Applied Digital Corporation (NASDAQ:APLD) by 76.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 160,243 shares of the company’s stock after selling 507,354 shares during the quarter. Deutsche Bank AG owned 0.07% of Applied Digital worth $901,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of APLD. Charles Schwab Investment Management Inc. lifted its stake in Applied Digital by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,869,386 shares of the company’s stock valued at $10,506,000 after purchasing an additional 70,955 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Applied Digital by 5.7% during the first quarter. Vanguard Group Inc. now owns 13,491,013 shares of the company’s stock worth $75,819,000 after buying an additional 730,978 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Applied Digital by 17.8% during the first quarter. Blair William & Co. IL now owns 96,910 shares of the company’s stock worth $545,000 after buying an additional 14,650 shares in the last quarter. R Squared Ltd lifted its stake in shares of Applied Digital by 259.7% in the 1st quarter. R Squared Ltd now owns 16,760 shares of the company’s stock valued at $94,000 after acquiring an additional 12,100 shares during the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in shares of Applied Digital in the 1st quarter valued at $28,000. 65.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. B. Riley increased their target price on Applied Digital from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Citigroup reaffirmed an “outperform” rating on shares of Applied Digital in a research note on Tuesday, June 3rd. Citizens Jmp upgraded shares of Applied Digital to a “strong-buy” rating and set a $12.00 price objective for the company in a report on Thursday, May 22nd. Needham & Company LLC boosted their target price on shares of Applied Digital from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, HC Wainwright upped their price target on shares of Applied Digital from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat, Applied Digital has a consensus rating of “Buy” and an average price target of $15.18.

Applied Digital Stock Up 1.8%

Applied Digital stock opened at $16.05 on Monday. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of -14.72 and a beta of 6.17. Applied Digital Corporation has a 52-week low of $3.01 and a 52-week high of $16.92. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a 50 day moving average price of $11.81 and a two-hundred day moving average price of $8.72.

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 return on equity of 50.03% and a negative net margin of 107.22%.The company had revenue of $38.01 million for the quarter, compared to the consensus estimate of $42.86 million. During the same period in the previous year, the business earned ($0.14) EPS. The firm’s revenue was up 41.3% compared to the same quarter last year. Equities analysts predict that Applied Digital Corporation will post -0.96 EPS for the current year.

Insider Activity

In other Applied Digital 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 value of $159,975.00. Following the transaction, the director directly owned 317,987 shares of the company’s stock, valued at approximately $4,521,775.14. This trade represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.81% of the stock is currently owned by corporate insiders.

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.