Intech Investment Management LLC Has $1.84 Million Stock Position in Applied Digital Corporation $APLD

Intech Investment Management LLC boosted its holdings in Applied Digital Corporation (NASDAQ:APLD) by 35.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,099 shares of the company’s stock after buying an additional 19,797 shares during the period. Intech Investment Management LLC’s holdings in Applied Digital were worth $1,841,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Applied Digital in the third quarter worth $994,000. MRA Advisory Group acquired a new position in Applied Digital during the 3rd quarter valued at $978,000. Vanguard Group Inc. raised its stake in Applied Digital by 23.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,722,174 shares of the company’s stock valued at $406,547,000 after purchasing an additional 3,339,062 shares during the last quarter. Cannon Capital Management Inc. bought a new stake in Applied Digital in the 4th quarter valued at $3,635,000. Finally, Mandatum Life Insurance Co Ltd acquired a new stake in Applied Digital in the 3rd quarter worth $924,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Price Performance

Shares of APLD stock opened at $44.15 on Friday. The business has a fifty day simple moving average of $35.96 and a 200 day simple moving average of $32.00. The company has a market cap of $12.62 billion, a P/E ratio of -59.66 and a beta of 5.69. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65. Applied Digital Corporation has a twelve month low of $9.02 and a twelve month high of $50.72.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Wednesday, April 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.23). The business had revenue of $108.55 million for the quarter, compared to analyst estimates of $78.47 million. Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The firm’s revenue was up 139.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. On average, sell-side analysts forecast that Applied Digital Corporation will post -0.68 EPS for the current fiscal year.

Insider Activity at Applied Digital

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

Analysts Set New Price Targets

Several research firms have recently issued reports on APLD. Lucid Cap Mkts upgraded shares of Applied Digital to a “strong-buy” rating in a report on Wednesday, May 27th. Lake Street Capital reissued a “buy” rating and set a $70.00 target price (up from $55.00) on shares of Applied Digital in a research report on Thursday, May 21st. Roth Mkm restated a “buy” rating and set a $65.00 price target on shares of Applied Digital in a research note on Thursday, April 23rd. B. Riley Financial reaffirmed a “buy” rating and issued a $66.00 price target (up from $53.00) on shares of Applied Digital in a report on Wednesday, May 27th. Finally, Compass Point reiterated a “buy” rating and issued a $70.00 price objective on shares of Applied Digital in a research report on Friday, May 22nd. Three equities research 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 given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $59.11.

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.