Applied Digital Corporation $APLD Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Applied Digital Corporation (NASDAQ:APLD) by 32.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 581,255 shares of the company’s stock after acquiring an additional 143,308 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.20% of Applied Digital worth $21,681,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in APLD. Value Aligned Research Advisors LLC acquired a new position in Applied Digital during the fourth quarter valued at $138,380,000. Situational Awareness LP grew its position in Applied Digital by 87.0% during the 4th quarter. Situational Awareness LP now owns 11,339,060 shares of the company’s stock worth $278,034,000 after purchasing an additional 5,274,905 shares during the period. BNP Paribas Financial Markets raised its stake 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 buying an additional 5,198,223 shares during the last quarter. Marex Group plc raised its stake in shares of Applied Digital by 38,484.6% during the 4th quarter. Marex Group plc now owns 3,904,759 shares of the company’s stock valued at $95,745,000 after buying an additional 3,894,639 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Applied Digital in the 3rd quarter valued at about $69,535,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Richard Nottenburg sold 75,000 shares of Applied Digital stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $31.15, for a total transaction of $2,336,250.00. Following the transaction, the director directly owned 133,378 shares of the company’s stock, valued at $4,154,724.70. The trade was a 35.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.50% of the company’s stock.

Applied Digital Stock Up 1.8%

Shares of NASDAQ APLD opened at $26.37 on Friday. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of -29.63 and a beta of 5.72. Applied Digital Corporation has a 52-week low of $13.16 and a 52-week high of $50.72. The company’s 50-day simple moving average is $29.15 and its 200-day simple moving average is $32.97. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 2.88.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings data on Monday, July 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.30). The firm had revenue of $240.35 million during the quarter, compared to analyst estimates of $96.85 million. Applied Digital had a negative return on equity of 16.42% and a negative net margin of 37.78%.The company’s quarterly revenue was up 406.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Equities analysts predict that Applied Digital Corporation will post -1.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Northland Securities set a $82.00 target price on Applied Digital and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. Lake Street Capital lifted their price target on Applied Digital from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Citizens Jmp boosted their price target on Applied Digital from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Thursday, May 21st. Zacks Research lowered Applied Digital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Applied Digital in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Applied Digital currently has an average rating of “Moderate Buy” and an average target price of $68.15.

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.