Richard Nottenburg Sells 12,000 Shares of Applied Digital (NASDAQ:APLD) Stock

Applied Digital Corporation (NASDAQ:APLD) Director Richard Nottenburg sold 12,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $35.45, for a total transaction of $425,400.00. Following the completion of the sale, the director directly owned 233,378 shares of the company’s stock, valued at $8,273,250.10. This represents a 4.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Applied Digital Stock Performance

NASDAQ:APLD opened at $37.40 on Friday. The company’s 50-day moving average is $27.82 and its two-hundred day moving average is $22.76. Applied Digital Corporation has a 1-year low of $3.31 and a 1-year high of $40.20. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.82 and a quick ratio of 4.82. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of -69.26 and a beta of 6.89.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Wednesday, January 7th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Applied Digital had a negative net margin of 43.49% and a negative return on equity of 13.53%. The firm had revenue of $126.59 million for the quarter, compared to analysts’ expectations of $82.22 million. During the same period in the previous year, the firm posted ($0.06) EPS. The firm’s quarterly revenue was up 250.1% compared to the same quarter last year. Analysts forecast that Applied Digital Corporation will post -0.96 EPS for the current year.

Institutional Trading of Applied Digital

Several hedge funds have recently made changes to their positions in APLD. Atlantic Union Bankshares Corp purchased a new stake in Applied Digital during the 2nd quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in shares of Applied Digital during the fourth quarter worth $25,000. Larson Financial Group LLC increased its position in shares of Applied Digital by 56,450.0% during the third quarter. Larson Financial Group LLC now owns 1,131 shares of the company’s stock worth $26,000 after acquiring an additional 1,129 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Applied Digital in the second quarter valued at $26,000. Finally, Dagco Inc. purchased a new position in Applied Digital in the third quarter valued at $27,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Analyst Ratings Changes

APLD has been the subject of a number of recent analyst reports. Citigroup reissued an “outperform” rating on shares of Applied Digital in a research report on Tuesday, December 30th. Lake Street Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of Applied Digital in a research note on Tuesday, December 30th. Northland Securities reiterated an “outperform” rating and set a $40.00 price target on shares of Applied Digital in a research report on Tuesday, December 30th. B. Riley boosted their price target on shares of Applied Digital to $53.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Finally, Wall Street Zen raised shares of Applied Digital from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $33.27.

Key Applied Digital News

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: MarketBeat ranks APLD as the leading GPU‑as‑a‑Service play for 2026 after a blowout Q4, citing nearly 100% revenue growth, analyst upgrades and advance contracts that suggest the company’s Phase II capacity is largely sold out — a major demand signal for future revenue and margin expansion. The 5 Best GPU-as-a-Service Providers for 2026—And 1 Clear Winner
• Positive Sentiment: Management move: Applied Digital promoted co‑founder Jason Zhang to President, signaling leadership continuity and deeper founder involvement as the company scales data‑center and GPU hosting operations. This supports investor confidence on execution risk. Applied Digital Appoints Co-Founder Jason Zhang as President
• Positive Sentiment: Street momentum: APLD is highlighted in MarketBeat small‑cap features and has seen analysts lift targets and ratings following the quarter, which supports further upside if execution and contract wins continue. 5 Hot Small Caps Setting Up for Big Gains: Buy, Sell, or Hold?
• Neutral Sentiment: Industry/structural analysis: Longer‑term writeups (e.g., Seeking Alpha) discuss a “REIT angle” and capital‑structure considerations for Applied Digital’s asset‑heavy model — useful for evaluating valuation and cash flow durability but not an immediate share‑price catalyst. Applied Digital: The REIT Angle No One Talks About
• Negative Sentiment: Insider selling: Multiple director sales have been disclosed this week — Richard N. Nottenburg sold ~23,606 shares across Jan. 14–15 (SEC Form 4), and Director Douglas Miller sold 10,000 shares earlier — prompting reports of intraday weakness tied to insider activity. Investors often view clustered director sales as a short‑term negative signal even when holders remain large. Nottenburg Form 4 (Insider Sale) Miller Form 4 (Insider Sale)
• Negative Sentiment: Market reaction note: Coverage flagged a short‑term pullback after the insider sales (reports noted a ~1–2% intraday decline tied to the disclosures), underscoring that insider activity can temporarily damp momentum despite strong fundamentals. Applied Digital Trading Down Following Insider Selling

Applied Digital Company Profile

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.