Insider Buying: Applied Digital (NASDAQ:APLD) CEO Acquires $1,006,686.12 in Stock

Posted by Francis Steltz on Oct 22nd, 2026

Applied Digital Corporation (NASDAQ:APLD – Get Free Report) CEO Wes Cummins bought 55,803 shares of the stock in a transaction on Friday, October 16th. The shares were acquired at an average cost of $18.04 per share, with a total value of $1,006,686.12. Following the purchase, the chief executive officer owned 5,874,453 shares of the company’s stock, valued at approximately $105,975,132.12. This represents a 0.96% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Applied Digital Price Performance

APLD opened at $20.98 on Thursday. 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 company’s 50 day moving average is $25.51 and its 200-day moving average is $32.26. Applied Digital Corporation has a 1-year low of $17.65 and a 1-year high of $50.72.

Applied Digital (NASDAQ:APLD – Get Free Report) last released its quarterly earnings data on Wednesday, October 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.29. The business had revenue of $300.39 million during the quarter, compared to analysts’ expectations of $116.29 million. Applied Digital had a negative net margin of 51.28% and a negative return on equity of 27.21%. The firm’s quarterly revenue was up 367.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) EPS. As a group, equities analysts expect that Applied Digital Corporation will post -2.06 earnings per share for the current fiscal year.

Trending Headlines about Applied Digital

Here are the key news stories impacting Applied Digital this week:

Positive Sentiment: Applied Digital agreed with Soluna Holdings to develop a planned 50-megawatt AI and high-performance-computing data center at Soluna’s Project Dorothy 3 site in Texas. Applied Digital will own 51% of the project company, giving it majority control of a power-backed data-center development. Soluna Agrees to Form Strategic Partnership with Applied Digital to Develop Wind-Powered AI Data Center in Texas
Positive Sentiment: The facility is expected to use electricity from a nearby wind farm, reinforcing Applied Digital’s positioning in energy-efficient and renewable-powered AI infrastructure. The company’s majority-owned neocloud business, ChronoScale, has also signed a non-binding letter of intent to lease the site, potentially providing an initial customer opportunity. Soluna and Applied Digital to Build 50 MW Wind-Powered AI Data Center in Texas
Positive Sentiment: Roth MKM reinstated coverage of APLD with a Buy rating and a $35 price target. The target implies substantial upside from recent trading levels and added credibility to the Texas project and Applied Digital’s broader AI data-center strategy. Roth MKM Reinstates Applied Digital at Buy
Positive Sentiment: Management’s recent insider purchases—including approximately $6.6 million of stock bought by the CEO and president—provided an additional confidence signal following the selloff. Applied Digital Executives Buy $6.7 Million in Stock
Neutral Sentiment: APLD also benefited from a wider rally in AI data-center and power-infrastructure stocks after industry commentary emphasized strong electricity demand and limited supply. This sector-wide momentum may not represent a company-specific improvement.
Negative Sentiment: Investors still face execution and financing risks. Applied Digital remains unprofitable, carries substantial leverage and has significant cash needs to fund data-center expansion. In addition, ChronoScale’s lease commitment is currently non-binding, so the Texas project’s ultimate economics and tenant demand remain uncertain.

Institutional Investors Weigh In On Applied Digital

Several hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in Applied Digital during the 2nd quarter worth approximately $37,000. Osbon Capital Management LLC bought a new position in shares of Applied Digital during the fourth quarter valued at $28,000. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Applied Digital by 244.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 1,205 shares of the company’s stock worth $29,000 after purchasing an additional 855 shares during the period. Ancora Advisors LLC acquired a new position in shares of Applied Digital during the second quarter worth $56,000. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Applied Digital by 691.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 1,536 shares of the company’s stock worth $57,000 after purchasing an additional 1,342 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley set a $41.00 target price on shares of Applied Digital and gave the stock an “equal weight” rating in a research note on Friday, October 9th. Needham & Company LLC dropped their price target on Applied Digital from $83.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Wall Street Zen cut Applied Digital from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 30th. Rothschild & Co Redburn set a $22.00 price objective on Applied Digital and gave the company a “neutral” rating in a report on Monday, September 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Applied Digital in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Applied Digital currently has an average rating of “Moderate Buy” and a consensus target price of $59.75.

View Our Latest Stock Analysis on Applied Digital

About Applied Digital

(Get Free Report)

Applied Digital Corporation (NASDAQ: APLD) develops and operates digital infrastructure designed to support high-performance computing and artificial intelligence applications. The company provides data-center capacity, hosting services and related infrastructure for customers that require substantial computing power and energy resources.

Its business includes high-performance computing data centers and cloud services intended to support artificial intelligence, machine learning, cryptocurrency mining and other compute-intensive workloads.