Creative Planning Buys 19,989 Shares of Applied Digital Corporation $APLD

Creative Planning grew its stake in shares of Applied Digital Corporation (NASDAQ:APLD) by 62.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 52,103 shares of the company’s stock after buying an additional 19,989 shares during the period. Creative Planning’s holdings in Applied Digital were worth $525,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in APLD. SG Americas Securities LLC increased its stake in Applied Digital by 47.3% during the second quarter. SG Americas Securities LLC now owns 54,343 shares of the company’s stock valued at $547,000 after acquiring an additional 17,440 shares during the period. Foundations Investment Advisors LLC bought a new stake in shares of Applied Digital during the second quarter valued at approximately $188,000. SBI Securities Co. Ltd. increased its position in shares of Applied Digital by 37.0% during the second quarter. SBI Securities Co. Ltd. now owns 41,900 shares of the company’s stock valued at $422,000 after purchasing an additional 11,319 shares during the period. Lisanti Capital Growth LLC acquired a new position in shares of Applied Digital in the second quarter valued at $1,736,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Applied Digital by 26.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 144,993 shares of the company’s stock worth $1,460,000 after purchasing an additional 30,507 shares during the period. 65.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Applied Digital

In other Applied Digital news, Director Rachel H. Lee sold 24,213 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $33.20, for a total value of $803,871.60. Following the completion of the transaction, the director directly owned 59,400 shares of the company’s stock, valued at approximately $1,972,080. The trade was a 28.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mohammad Saidal Lavanw Mohmand sold 37,503 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $36.47, for a total transaction of $1,367,734.41. Following the transaction, the chief financial officer owned 121,409 shares in the company, valued at $4,427,786.23. The trade was a 23.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 328,035 shares of company stock valued at $11,376,479. 9.50% of the stock is currently owned by company insiders.

Applied Digital Price Performance

Shares of Applied Digital stock opened at $31.22 on Friday. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of -27.63 and a beta of 6.94. The firm’s 50-day moving average price is $29.22 and its two-hundred day moving average price is $18.69. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.29. Applied Digital Corporation has a 1-year low of $3.31 and a 1-year high of $40.20.

Applied Digital (NASDAQ:APLD) last announced its earnings results on Thursday, October 9th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.08. Applied Digital had a negative return on equity of 37.14% and a negative net margin of 111.29%.The business had revenue of $64.22 million for the quarter, compared to the consensus estimate of $52.25 million. During the same period in the previous year, the business earned ($0.15) EPS. Applied Digital’s revenue was up 84.3% compared to the same quarter last year. On average, equities analysts predict that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APLD has been the topic of several analyst reports. Craig Hallum boosted their price target on shares of Applied Digital to $39.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Citigroup reissued an “outperform” rating on shares of Applied Digital in a research note on Thursday, October 9th. Northland Securities raised their price target on shares of Applied Digital to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. B. Riley reaffirmed a “buy” rating on shares of Applied Digital in a report on Wednesday, October 22nd. Finally, HC Wainwright increased their target price on Applied Digital from $20.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.20.

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.