Jones Financial Companies Lllp Purchases 37,588 Shares of Applied Digital Corporation $APLD

Jones Financial Companies Lllp lifted its position in shares of Applied Digital Corporation (NASDAQ:APLD) by 108.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,391 shares of the company’s stock after purchasing an additional 37,588 shares during the quarter. Jones Financial Companies Lllp’s holdings in Applied Digital were worth $1,572,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Dagco Inc. bought a new position in Applied Digital during the third quarter worth about $27,000. Evolution Wealth Management Inc. lifted its holdings in shares of Applied Digital by 101.8% during the 3rd quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company’s stock valued at $37,000 after purchasing an additional 807 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Applied Digital by 124.9% in the 3rd quarter. CoreCap Advisors LLC now owns 1,804 shares of the company’s stock valued at $41,000 after purchasing an additional 1,002 shares during the period. Farther Finance Advisors LLC increased its stake in Applied Digital by 51.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,306 shares of the company’s stock worth $53,000 after purchasing an additional 787 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Applied Digital during the 2nd quarter worth approximately $25,000. Institutional investors own 65.67% of the company’s stock.

Insider Activity

In related news, Director Richard N. Nottenburg sold 12,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $35.45, for a total value of $425,400.00. Following the completion of the sale, the director directly owned 233,378 shares in the company, valued at approximately $8,273,250.10. This trade represents a 4.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Wes Cummins sold 165,000 shares of Applied Digital stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $36.42, for a total value of $6,009,300.00. Following the transaction, the chief executive officer owned 4,176,329 shares of the company’s stock, valued at $152,101,902.18. The trade was a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 244,593 shares of company stock valued at $9,003,278 in the last ninety days. Corporate insiders own 9.50% of the company’s stock.

Applied Digital Stock Up 9.4%

NASDAQ:APLD opened at $38.23 on Tuesday. Applied Digital Corporation has a twelve month low of $3.31 and a twelve month high of $42.27. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of -70.80 and a beta of 7.25. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 1.79. The stock’s 50 day moving average price is $31.36 and its two-hundred day moving average price is $25.73.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. B. Riley Financial lifted their price target on shares of Applied Digital to $53.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Arete Research assumed coverage on shares of Applied Digital in a research report on Wednesday, January 7th. They issued a “buy” rating on the stock. Texas Capital upgraded Applied Digital to a “strong-buy” rating in a report on Tuesday, January 20th. Needham & Company LLC restated a “buy” rating and issued a $41.00 price target on shares of Applied Digital in a report on Thursday, January 8th. Finally, Craig Hallum increased their price objective on Applied Digital to $39.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Three investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $34.73.

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.