Applied Digital Corporation $APLD Stock: International Private Wealth Advisors LLC Grows Stake

International Private Wealth Advisors LLC lifted its position in shares of Applied Digital Corporation (NASDAQ:APLD) by 203.3% during the third quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Equitec Proprietary Markets LLC bought a new position in shares of Applied Digital in the 2nd quarter worth $312,349,000. Situational Awareness LP grew its position in Applied Digital by 18.9% in the 1st quarter. Situational Awareness LP now owns 13,478,438 shares of the company’s stock valued at $319,978,000 after purchasing an additional 2,139,378 shares during the period. Janus Henderson Group PLC increased its stake in Applied Digital by 318.5% during the 1st quarter. Janus Henderson Group PLC now owns 785,152 shares of the company’s stock valued at $18,638,000 after purchasing an additional 597,548 shares in the last quarter. Sei Investments Co. increased its stake in Applied Digital by 33.0% during the 1st quarter. Sei Investments Co. now owns 1,093,701 shares of the company’s stock valued at $25,964,000 after purchasing an additional 271,618 shares in the last quarter. Finally, Steamboat Capital Partners LLC bought a new stake in Applied Digital during the 2nd quarter valued at $7,203,000. 65.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on APLD. UBS Group restated a “buy” rating on shares of Applied Digital in a report on Thursday, October 8th. B. Riley Financial reduced their price objective on shares of Applied Digital from $75.00 to $51.00 and set a “buy” rating for the company in a report on Friday, October 30th. Citigroup reissued a “market outperform” rating on shares of Applied Digital in a research report on Thursday, October 8th. Rothschild & Co Redburn set a $22.00 target price on shares of Applied Digital and gave the stock a “neutral” rating in a research report on Monday, September 21st. Finally, Zacks Research lowered shares of Applied Digital from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Applied Digital presently has a consensus rating of “Moderate Buy” and an average price target of $56.42.

Applied Digital Stock Up 7.4%

Applied Digital stock opened at $17.91 on Thursday. Applied Digital Corporation has a fifty-two week low of $13.11 and a fifty-two week high of $50.72. The company has a debt-to-equity ratio of 3.90, a quick ratio of 2.56 and a current ratio of 2.56. The firm’s 50-day simple moving average is $22.44 and its 200 day simple moving average is $30.56. The stock has a market cap of $5.42 billion, a PE ratio of -10.92 and a beta of 5.58.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings data on Wednesday, October 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.29. Applied Digital had a negative net margin of 51.28% and a negative return on equity of 27.21%. The firm had revenue of $300.39 million during the quarter, compared to analyst estimates of $116.29 million. During the same quarter last year, the business posted ($0.03) EPS. The company’s revenue for the quarter was up 367.8% on a year-over-year basis. Research analysts predict that Applied Digital Corporation will post -2.17 EPS for the current fiscal year.

Applied Digital News Summary

Here’s some of the latest news about APLD:

• 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: CoreWeave represents an estimated $11 billion of lease-related exposure for Applied Digital. Reports that CoreWeave’s unsecured debt is under pressure raise concerns about tenant creditworthiness and the durability of expected lease revenue. Article: Applied Digital Carries $11 Billion in CoreWeave Exposure
• 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 Transactions at Applied Digital

In other Applied Digital news, President Jason Gechen Zhang bought 300,000 shares of Applied Digital stock in a transaction dated Friday, October 16th. The stock was bought at an average cost of $18.86 per share, with a total value of $5,658,000.00. Following the completion of the acquisition, the president directly owned 2,839,227 shares in the company, valued at approximately $53,547,821.22. The trade was a 11.81% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Nottenburg sold 31,250 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly 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. The disclosure for this sale is available in the SEC filing. Company insiders own 9.50% of the company’s stock.

Applied Digital Profile

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.