Landscape Capital Management L.L.C. acquired a new position in shares of Applied Digital Corporation (NASDAQ:APLD – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 114,198 shares of the company’s stock, valued at approximately $2,800,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in APLD. Noble Wealth Management PBC acquired a new stake in shares of Applied Digital during the 4th quarter worth approximately $25,000. Albion Financial Group UT acquired a new stake in shares of Applied Digital during the 4th quarter worth approximately $25,000. Activest Wealth Management acquired a new stake in shares of Applied Digital during the 4th quarter worth approximately $25,000. McMillan Office Inc. acquired a new stake in shares of Applied Digital during the 4th quarter worth approximately $25,000. Finally, Larson Financial Group LLC grew its stake in shares of Applied Digital by 56,450.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,131 shares of the company’s stock worth $26,000 after purchasing an additional 1,129 shares during the period. Institutional investors and hedge funds own 65.67% of the company’s stock.
Insider Buying and Selling at Applied Digital
In other Applied Digital news, Director Richard N. Nottenburg sold 12,500 shares of Applied Digital stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $34.59, for a total transaction of $432,375.00. Following the sale, the director owned 208,378 shares of the company’s stock, valued at $7,207,795.02. The trade was a 5.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital 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. This trade represents a 5.13% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 35,000 shares of company stock worth $1,182,175. 9.50% of the stock is currently owned by corporate insiders.
Applied Digital Price Performance
Applied Digital (NASDAQ:APLD – Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.23). Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The business had revenue of $108.55 million for the quarter, compared to analyst estimates of $78.47 million. During the same period last year, the firm earned ($0.08) EPS. The company’s revenue for the quarter was up 139.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Applied Digital Corporation will post -0.68 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on APLD shares. Lucid Cap Mkts raised shares of Applied Digital to a “strong-buy” rating in a research note on Wednesday, May 27th. Needham & Company LLC lifted their price target on shares of Applied Digital from $66.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Wall Street Zen cut shares of Applied Digital from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Citigroup reissued a “market outperform” rating on shares of Applied Digital in a research note on Tuesday, June 9th. Finally, Citizens Jmp lifted their price target on shares of Applied Digital from $40.00 to $60.00 and gave the company a “market outperform” rating in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.67.
View Our Latest Stock Report on Applied Digital
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.
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