Applied Digital Corporation $APLD Stock Position Raised by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its position in Applied Digital Corporation (NASDAQ:APLD) by 68.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,963 shares of the company’s stock after buying an additional 19,980 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Applied Digital were worth $1,162,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Applied Digital by 36.4% during 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 grew its position in Applied Digital by 87.0% in the fourth quarter. Situational Awareness LP now owns 11,339,060 shares of the company’s stock worth $278,034,000 after acquiring an additional 5,274,905 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Applied Digital by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 6,285,820 shares of the company’s stock worth $154,151,000 after purchasing an additional 304,228 shares during the last quarter. Value Aligned Research Advisors LLC acquired a new position in shares of Applied Digital during the 4th quarter worth $138,380,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Applied Digital by 24,356.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock valued at $52,561,000 after purchasing an additional 5,198,223 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

Applied Digital Stock Performance

NASDAQ:APLD opened at $29.03 on Thursday. The firm has a market capitalization of $8.30 billion, a PE ratio of -39.23 and a beta of 5.67. Applied Digital Corporation has a 1 year low of $9.75 and a 1 year high of $50.72. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.65. The firm’s fifty day simple moving average is $40.97 and its 200 day simple moving average is $34.45.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APLD. Roth Capital reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Applied Digital in a research note on Thursday, April 23rd. Wall Street Zen lowered Applied Digital from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Lake Street Capital boosted their price target on Applied Digital from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. B. Riley Financial reiterated a “buy” rating and set a $66.00 price target (up from $53.00) on shares of Applied Digital in a research note on Wednesday, May 27th. Finally, Lucid Cap Mkts raised Applied Digital to a “strong-buy” rating in a report on Wednesday, May 27th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Applied Digital presently has a consensus rating of “Moderate Buy” and an average price target of $70.56.

Insider Transactions at Applied Digital

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the sale, the director directly owned 184,859 shares in the company, valued at $6,466,367.82. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Nottenburg sold 12,500 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $34.59, for a total value of $432,375.00. Following the completion of the sale, the director directly owned 208,378 shares in the company, valued at approximately $7,207,795.02. This represents a 5.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 35,000 shares of company stock valued at $1,182,175 over the last 90 days. Corporate insiders own 9.50% of the company’s stock.

Applied Digital 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.