Applied Digital Corporation $APLD Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its holdings in Applied Digital Corporation (NASDAQ:APLD) by 371.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,629 shares of the company’s stock after acquiring an additional 44,608 shares during the period. Nisa Investment Advisors LLC’s holdings in Applied Digital were worth $1,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APLD. Hood River Capital Management LLC lifted its stake in shares of Applied Digital by 2.8% in the 2nd quarter. Hood River Capital Management LLC now owns 21,859,031 shares of the company’s stock valued at $220,120,000 after purchasing an additional 592,314 shares during the last quarter. Situational Awareness LP lifted its position 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 buying an additional 2,556,200 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Applied Digital by 24,356.8% during the second quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock worth $52,561,000 after buying an additional 5,198,223 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Applied Digital by 24.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,661,296 shares of the company’s stock valued at $26,799,000 after acquiring an additional 514,896 shares during the last quarter. Finally, HRT Financial LP purchased a new stake in shares of Applied Digital in the 2nd quarter valued at approximately $14,759,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Applied Digital Trading Down 1.7%

APLD opened at $36.10 on Thursday. The business has a fifty day moving average price of $27.61 and a 200 day moving average price of $22.39. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.82 and a quick ratio of 4.82. Applied Digital Corporation has a 12 month low of $3.31 and a 12 month high of $40.20. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of -66.85 and a beta of 6.89.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Wednesday, January 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Applied Digital had a negative net margin of 43.49% and a negative return on equity of 13.53%. The company had revenue of $126.59 million during the quarter, compared to analysts’ expectations of $82.22 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The business’s quarterly revenue was up 250.1% compared to the same quarter last year. Sell-side analysts expect that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Rachel H. Lee sold 24,213 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $33.20, for a total value of $803,871.60. Following the transaction, the director owned 59,400 shares of the company’s stock, valued at $1,972,080. This represents a 28.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Chuck Hastings sold 50,000 shares of Applied Digital stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $35.69, for a total value of $1,784,500.00. Following the sale, the director directly owned 451,612 shares of the company’s stock, valued at $16,118,032.28. This trade represents a 9.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 338,035 shares of company stock valued at $11,761,879. Insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on APLD shares. Lake Street Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Applied Digital in a report on Tuesday, December 30th. Northland Securities reiterated an “outperform” rating and issued a $40.00 price objective on shares of Applied Digital in a report on Tuesday, December 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Applied Digital in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Applied Digital in a research report on Thursday, January 8th. Finally, Freedom Capital raised shares of Applied Digital to a “strong-buy” rating in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $33.27.

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.