Clearfield Capital Management LP Has $12.61 Million Stock Holdings in Applied Digital Corporation $APLD

Clearfield Capital Management LP lessened its holdings in shares of Applied Digital Corporation (NASDAQ:APLD) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 549,479 shares of the company’s stock after selling 19,700 shares during the quarter. Applied Digital accounts for approximately 7.5% of Clearfield Capital Management LP’s holdings, making the stock its 7th largest holding. Clearfield Capital Management LP owned 0.19% of Applied Digital worth $12,605,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dagco Inc. bought a new stake in shares of Applied Digital in the third quarter worth about $27,000. Evolution Wealth Management Inc. grew its position in shares of Applied Digital by 101.8% in 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 during the period. 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. RiverPark Advisors LLC bought a new stake in Applied Digital during the 3rd quarter worth approximately $51,000. Finally, Farther Finance Advisors LLC raised its holdings 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 buying an additional 787 shares during the period. 65.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Applied Digital

In related news, CEO Wes Cummins sold 165,000 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $36.42, for a total value of $6,009,300.00. Following the completion of the transaction, the chief executive officer owned 4,176,329 shares of the company’s stock, valued at approximately $152,101,902.18. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction on Monday, January 12th. The shares were sold at an average price of $38.54, for a total transaction of $385,400.00. Following the completion of the sale, the director owned 200,859 shares in the company, valued at $7,741,105.86. The trade was a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 244,593 shares of company stock worth $9,003,278. Company insiders own 9.50% of the company’s stock.

Analyst Upgrades and Downgrades

APLD has been the topic of a number of research reports. Freedom Capital raised shares of Applied Digital to a “strong-buy” rating in a research note on Tuesday, January 6th. Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Applied Digital in a report on Thursday, January 8th. Northland Securities set a $56.00 price objective on shares of Applied Digital in a research report on Wednesday, January 28th. Roth Mkm reaffirmed a “buy” rating on shares of Applied Digital in a research note on Tuesday, February 17th. Finally, Arete Research began coverage on Applied Digital in a report on Wednesday, January 7th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Applied Digital has a consensus rating of “Buy” and a consensus target price of $37.00.

Applied Digital Price Performance

Shares of APLD opened at $27.05 on Friday. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 1.79. Applied Digital Corporation has a twelve month low of $3.31 and a twelve month high of $42.27. The stock has a market capitalization of $7.56 billion, a P/E ratio of -50.09 and a beta of 7.20. The company has a 50 day moving average of $32.86 and a 200-day moving average of $28.36.

Applied Digital 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.