Wellington Management Group LLP Boosts Position in Applied Digital Corporation $APLD

Wellington Management Group LLP raised its position in Applied Digital Corporation (NASDAQ:APLD) by 11.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,056 shares of the company’s stock after acquiring an additional 2,001 shares during the quarter. Wellington Management Group LLP’s holdings in Applied Digital were worth $107,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in APLD. Wedbush Securities Inc. increased its position in shares of Applied Digital by 14.8% during the 1st quarter. Wedbush Securities Inc. now owns 15,500 shares of the company’s stock valued at $87,000 after purchasing an additional 2,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Applied Digital by 29.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,778 shares of the company’s stock valued at $77,000 after buying an additional 3,127 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Applied Digital by 13.3% in the first quarter. SBI Securities Co. Ltd. now owns 30,581 shares of the company’s stock worth $172,000 after acquiring an additional 3,593 shares during the period. SeaCrest Wealth Management LLC boosted its stake in shares of Applied Digital by 5.4% during the 1st quarter. SeaCrest Wealth Management LLC now owns 80,847 shares of the company’s stock worth $454,000 after acquiring an additional 4,107 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Applied Digital by 18.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,071 shares of the company’s stock valued at $175,000 after acquiring an additional 4,916 shares during the period. 65.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Applied Digital

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 completion of 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 11.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on APLD shares. Citizens Jmp raised Applied Digital to a “strong-buy” rating and set a $12.00 target price on the stock in a report on Thursday, May 22nd. Craig Hallum raised their price objective on Applied Digital from $12.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. B. Riley boosted their price objective on Applied Digital from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. JMP Securities increased their target price on shares of Applied Digital from $12.00 to $18.00 and gave the stock a “market outperform” rating in a report on Tuesday, June 3rd. Finally, Roth Capital reaffirmed a “buy” rating on shares of Applied Digital in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. According to MarketBeat.com, Applied Digital currently has a consensus rating of “Buy” and a consensus price target of $15.64.

Applied Digital Stock Performance

NASDAQ:APLD opened at $15.26 on Wednesday. The stock has a 50-day moving average price of $12.59 and a 200 day moving average price of $9.11. The stock has a market capitalization of $3.99 billion, a P/E ratio of -14.00 and a beta of 6.64. Applied Digital Corporation has a 12-month low of $3.01 and a 12-month high of $17.60. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.36.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). Applied Digital had a negative return on equity of 50.03% and a negative net margin of 107.22%.The business had revenue of $38.01 million during the quarter, compared to the consensus estimate of $42.86 million. During the same period in the prior year, the company posted ($0.14) EPS. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. Equities research analysts forecast that Applied Digital Corporation will post -0.96 EPS for the current fiscal 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.