Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 21,069 Applied Digital Corporation $APLD

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Applied Digital Corporation (NASDAQ:APLD) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,069 shares of the company’s stock, valued at approximately $483,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Applied Digital by 51.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,306 shares of the company’s stock valued at $53,000 after buying an additional 787 shares in the last quarter. Evolution Wealth Management Inc. lifted its stake in Applied Digital by 101.8% in the third quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company’s stock valued at $37,000 after acquiring an additional 807 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in Applied Digital by 6.0% in the second quarter. Flagship Harbor Advisors LLC now owns 15,930 shares of the company’s stock worth $160,000 after acquiring an additional 900 shares in the last quarter. CoreCap Advisors LLC grew its position in Applied Digital by 124.9% in the third quarter. CoreCap Advisors LLC now owns 1,804 shares of the company’s stock worth $41,000 after acquiring an additional 1,002 shares in the last quarter. Finally, Compass Ion Advisors LLC increased its stake in shares of Applied Digital by 9.9% during the 3rd quarter. Compass Ion Advisors LLC now owns 11,434 shares of the company’s stock worth $262,000 after purchasing an additional 1,034 shares during the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on APLD shares. Roth Mkm increased their target price on shares of Applied Digital to $58.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. HC Wainwright increased their price objective on Applied Digital from $20.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 10th. B. Riley raised their price objective on Applied Digital to $53.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Digital in a research report on Wednesday, October 8th. Finally, Lake Street Capital reiterated a “buy” rating and set a $45.00 price target on shares of Applied Digital in a report on Tuesday, December 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Applied Digital currently has a consensus rating of “Buy” and an average price target of $34.73.

Insider Activity at Applied Digital

In other news, CEO Wes Cummins sold 165,000 shares of Applied Digital stock in a transaction on 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 completion of the sale, the chief executive officer directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the director owned 233,378 shares in the company, valued at approximately $8,273,250.10. This represents a 4.89% 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 over the last ninety days. Company insiders own 9.50% of the company’s stock.

Applied Digital Trading Up 2.7%

Shares of Applied Digital stock opened at $34.80 on Tuesday. The company’s fifty day moving average price is $30.55 and its two-hundred day moving average price is $24.93. The firm has a market capitalization of $9.73 billion, a PE ratio of -64.44 and a beta of 6.89. Applied Digital Corporation has a 52-week low of $3.31 and a 52-week high of $42.27. 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 (NASDAQ:APLD) last issued its earnings results on Wednesday, January 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $126.59 million during the quarter, compared to analyst estimates of $82.22 million. Applied Digital had a negative return on equity of 13.53% and a negative net margin of 43.49%.The company’s quarterly revenue was up 250.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, analysts expect that Applied Digital Corporation will post -0.96 EPS for the current year.

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.