International Private Wealth Advisors LLC boosted its stake in Applied Digital Corporation (NASDAQ:APLD – Free Report) by 203.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,674 shares of the company’s stock after purchasing an additional 33,298 shares during the period. International Private Wealth Advisors LLC’s holdings in Applied Digital were worth $1,211,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Equitec Proprietary Markets LLC acquired a new position in Applied Digital during the 2nd quarter worth about $312,349,000. Situational Awareness LP increased its stake in shares of Applied Digital by 18.9% in the first quarter. Situational Awareness LP now owns 13,478,438 shares of the company’s stock valued at $319,978,000 after buying an additional 2,139,378 shares during the period. Janus Henderson Group PLC raised its position in shares of Applied Digital by 318.5% during the first quarter. Janus Henderson Group PLC now owns 785,152 shares of the company’s stock worth $18,638,000 after acquiring an additional 597,548 shares during the last quarter. Sei Investments Co. raised its position in shares of Applied Digital by 33.0% during the first quarter. Sei Investments Co. now owns 1,093,701 shares of the company’s stock worth $25,964,000 after acquiring an additional 271,618 shares during the last quarter. Finally, Steamboat Capital Partners LLC bought a new position in shares of Applied Digital during the second quarter worth about $7,203,000. 65.67% of the stock is owned by institutional investors.
Applied Digital News Summary
Here’s some of the latest news about APLD:
- Positive Sentiment: Shares have benefited from a rebound in AI data-center stocks after CoreWeave’s results and financing news helped revive confidence in the sector. That matters to Applied Digital because CoreWeave is a major tenant. Article: Applied Digital Rallies as CoreWeave’s Results Revive the AI Data Center Trade
- Positive Sentiment: A proposed Louisiana agreement could support up to $4.6 billion in bonds for Applied Digital’s AI campus, with Meta’s lease potentially backing the financing. If completed, this could help fund campus development; the proposal is not a finalized financing deal. Article: Meta’s Lease Could Back Up to $4.6 Billion in Louisiana Bonds
- Negative Sentiment: Analyst commentary has emphasized Applied Digital’s high leverage and financing needs, while Morgan Stanley reportedly cut its price target. These concerns may limit the effect of sector-wide optimism, particularly if borrowing costs remain high. Article: Applied Digital Leverage Risks Can No Longer Be Ignored Article: Morgan Stanley Cuts Applied Digital Price Target
Insider Activity
In related news, President Jason Gechen Zhang acquired 300,000 shares of the business’s stock in a transaction dated Friday, October 16th. The shares were bought at an average price of $18.86 per share, with a total value of $5,658,000.00. Following the transaction, the president directly owned 2,839,227 shares of the company’s stock, valued at $53,547,821.22. This trade represents a 11.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Nottenburg sold 31,250 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $21.84, for a total value of $682,500.00. Following the completion of the sale, the director owned 102,128 shares of the company’s stock, valued at approximately $2,230,475.52. This represents a 23.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.50% of the company’s stock.
Applied Digital Stock Up 7.4%
Applied Digital stock opened at $17.91 on Thursday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 3.90. Applied Digital Corporation has a 12-month low of $13.11 and a 12-month high of $50.72. The firm’s fifty day moving average is $22.44 and its 200 day moving average is $30.56. The company has a market capitalization of $5.42 billion, a PE ratio of -10.92 and a beta of 5.58.
Applied Digital (NASDAQ:APLD – Get Free Report) last issued its earnings results on Wednesday, October 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.29. The business had revenue of $300.39 million for the quarter, compared to analyst estimates of $116.29 million. Applied Digital had a negative net margin of 51.28% and a negative return on equity of 27.21%. Applied Digital’s revenue was up 367.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share. As a group, sell-side analysts predict that Applied Digital Corporation will post -2.17 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on APLD shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Digital in a research note on Monday, October 19th. UBS Group reiterated a “buy” rating on shares of Applied Digital in a report on Thursday, October 8th. Wells Fargo & Company reissued an “overweight” rating and set a $55.00 target price (up from $50.00) on shares of Applied Digital in a research report on Thursday, October 8th. Rothschild & Co Redburn set a $22.00 price target on shares of Applied Digital and gave the stock a “neutral” rating in a report on Monday, September 21st. Finally, Zacks Research downgraded shares of Applied Digital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.42.
Get Our Latest Stock Report on APLD
About Applied Digital
Applied Digital Corporation develops, builds and operates data centers designed for high-density computing. Its facilities support digital asset mining as well as high-performance computing workloads, including artificial intelligence applications, and the company provides hosting and infrastructure services to customers in these sectors. The company also offers cloud services that give customers access to computing capacity for demanding workloads. Its data center operations are focused in the United States, including facilities in North Dakota.
See Also
- Five stocks we like better than Applied Digital
- Keeping AI Cool: AAON Rides the AI Heatwave to Record Growth
- AST SpaceMobile Has a New Rocket Plan, But Its Cash-Burn Problem Isn’t Going Away
- Powering Up the Moon: Redwire’s $40 Million NASA Award
- Can Constellation Energy’s Contracts Power a Stock Rebound?
Receive News & Ratings for Applied Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Digital and related companies with MarketBeat.com's FREE daily email newsletter.
