Headlands Technologies LLC Has $3.81 Million Position in Applied Digital Corporation $APLD

Headlands Technologies LLC lifted its position in shares of Applied Digital Corporation (NASDAQ:APLD) by 767.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 378,451 shares of the company’s stock after purchasing an additional 334,841 shares during the period. Headlands Technologies LLC owned 0.14% of Applied Digital worth $3,811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cetera Investment Advisers lifted its position in shares of Applied Digital by 146.0% in the first quarter. Cetera Investment Advisers now owns 38,296 shares of the company’s stock valued at $215,000 after buying an additional 22,730 shares during the last quarter. LPL Financial LLC lifted its holdings in Applied Digital by 65.7% during the 1st quarter. LPL Financial LLC now owns 299,779 shares of the company’s stock valued at $1,685,000 after purchasing an additional 118,877 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in Applied Digital during the first quarter worth $28,000. Vanguard Group Inc. increased its holdings in shares of Applied Digital by 5.7% in the first quarter. Vanguard Group Inc. now owns 13,491,013 shares of the company’s stock valued at $75,819,000 after purchasing an additional 730,978 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Applied Digital by 3.9% in the first 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 period. Institutional investors own 65.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 target price on shares of Applied Digital in a report on Wednesday, October 29th. Northland Securities boosted their price objective on Applied Digital to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Citigroup reiterated an “outperform” rating on shares of Applied Digital in a research note on Thursday, October 9th. B. Riley reiterated a “buy” rating on shares of Applied Digital in a research note on Wednesday, October 22nd. Finally, Craig Hallum boosted their price objective on shares of Applied Digital to $39.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.20.

Applied Digital Stock Down 9.4%

Shares of NASDAQ APLD opened at $27.86 on Friday. Applied Digital Corporation has a 52 week low of $3.31 and a 52 week high of $40.20. The firm’s fifty day moving average is $29.84 and its 200 day moving average is $19.59. The company has a market cap of $7.78 billion, a price-to-earnings ratio of -24.65 and a beta of 6.94. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.29.

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

Insider Buying and Selling

In other news, 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 sale, the chief financial officer directly owned 121,409 shares of the company’s stock, valued at $4,427,786.23. This represents a 23.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Nottenburg sold 9,375 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $35.91, for a total value of $336,656.25. Following the transaction, the director owned 249,237 shares of the company’s stock, valued at $8,950,100.67. This represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 328,035 shares of company stock valued at $11,376,479 in the last ninety days. Company insiders own 9.50% of the company’s stock.

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.