Exchange Traded Concepts LLC Sells 307,347 Shares of Applied Digital Corporation $APLD

Exchange Traded Concepts LLC lowered its stake in shares of Applied Digital Corporation (NASDAQ:APLD) by 32.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 648,282 shares of the company’s stock after selling 307,347 shares during the period. Exchange Traded Concepts LLC owned approximately 0.23% of Applied Digital worth $15,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in APLD. ProShare Advisors LLC grew its stake in shares of Applied Digital by 1.0% in the 3rd quarter. ProShare Advisors LLC now owns 36,652 shares of the company’s stock valued at $841,000 after buying an additional 376 shares during the period. PNC Financial Services Group Inc. raised its stake in Applied Digital by 7.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,951 shares of the company’s stock worth $137,000 after buying an additional 408 shares during the period. Wedbush Securities Inc. boosted its holdings in Applied Digital by 5.7% in the third quarter. Wedbush Securities Inc. now owns 10,785 shares of the company’s stock worth $247,000 after acquiring an additional 585 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Applied Digital by 33.9% in the fourth quarter. CoreCap Advisors LLC now owns 2,416 shares of the company’s stock worth $59,000 after acquiring an additional 612 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Applied Digital by 87.5% in the fourth quarter. GAMMA Investing LLC now owns 1,376 shares of the company’s stock valued at $34,000 after acquiring an additional 642 shares during the period. Institutional investors own 65.67% of the company’s stock.

Applied Digital Stock Performance

Shares of Applied Digital stock opened at $23.76 on Friday. The company has a market cap of $6.64 billion, a PE ratio of -44.00 and a beta of 7.20. Applied Digital Corporation has a 52 week low of $3.31 and a 52 week high of $42.27. The business has a 50 day moving average price of $31.33 and a 200-day moving average price of $29.16. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 1.79.

Insider Buying and Selling

In related news, Director Richard N. Nottenburg sold 12,000 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $425,400.00. Following the completion of the sale, the director owned 233,378 shares in the company, valued at approximately $8,273,250.10. This represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Chuck Hastings sold 45,987 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $38.57, for a total value of $1,773,718.59. Following the completion of the sale, the director directly owned 388,372 shares of the company’s stock, valued at $14,979,508.04. The trade was a 10.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 244,593 shares of company stock worth $9,003,278. 9.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

APLD has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Applied Digital in a report on Thursday, January 8th. Lake Street Capital reissued a “buy” rating and issued a $45.00 price target on shares of Applied Digital in a research report on Tuesday, December 30th. Roth Mkm restated a “buy” rating on shares of Applied Digital in a research note on Tuesday, February 17th. Citigroup restated an “outperform” rating on shares of Applied Digital in a report on Wednesday, January 28th. Finally, Northland Securities set a $56.00 price objective on shares of Applied Digital in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Applied Digital currently has an average rating of “Buy” and an average target price of $37.00.

About Applied Digital

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.