M&T Bank Corp Purchases New Shares in Applied Digital Corporation $APLD

M&T Bank Corp purchased a new stake in Applied Digital Corporation (NASDAQ:APLD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 11,216 shares of the company’s stock, valued at approximately $275,000.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Applied Digital by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 24,168,082 shares of the company’s stock valued at $592,601,000 after acquiring an additional 6,445,908 shares in the last quarter. Situational Awareness LP boosted its holdings in Applied Digital by 63.3% in the second quarter. Situational Awareness LP now owns 6,591,800 shares of the company’s stock valued at $66,379,000 after acquiring an additional 2,556,200 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Applied Digital by 24,356.8% in the second quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock valued at $52,561,000 after acquiring an additional 5,198,223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Applied Digital by 20.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,199,135 shares of the company’s stock valued at $73,388,000 after acquiring an additional 537,839 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in Applied Digital in the third quarter valued at $69,535,000. Institutional investors own 65.67% of the company’s stock.

Insider Activity

In other news, Director Richard N. Nottenburg sold 12,500 shares of Applied Digital stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $34.59, for a total value of $432,375.00. Following the completion of the transaction, the director owned 208,378 shares of the company’s stock, valued at $7,207,795.02. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $34.98, for a total value of $349,800.00. Following the completion of the transaction, the director directly owned 184,859 shares of the company’s stock, valued at approximately $6,466,367.82. This represents a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 35,000 shares of company stock valued at $1,182,175. 9.50% of the stock is owned by insiders.

Applied Digital Price Performance

APLD opened at $46.71 on Friday. The stock has a 50-day moving average price of $30.65 and a 200-day moving average price of $30.53. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a market cap of $13.35 billion, a PE ratio of -63.12 and a beta of 5.69. Applied Digital Corporation has a 1 year low of $5.51 and a 1 year high of $47.79.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.23). The company had revenue of $108.55 million during the quarter, compared to analysts’ expectations of $78.47 million. Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.Applied Digital’s revenue for the quarter was up 139.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. Sell-side analysts predict that Applied Digital Corporation will post -0.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APLD has been the topic of several recent analyst reports. Zacks Research upgraded shares of Applied Digital from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. Roth Mkm reiterated a “buy” rating and issued a $65.00 price target on shares of Applied Digital in a report on Thursday, April 23rd. Citizens Jmp restated a “market outperform” rating and set a $40.00 target price on shares of Applied Digital in a report on Thursday, April 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Applied Digital in a report on Friday, April 24th. Finally, Citigroup restated an “outperform” rating on shares of Applied Digital in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $44.33.

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.