Applied Digital Corporation $APLD Shares Sold by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC reduced its holdings in Applied Digital Corporation (NASDAQ:APLD) by 14.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 502,820 shares of the company’s stock after selling 86,273 shares during the quarter. Applied Digital accounts for 1.6% of Hunter Associates Investment Management LLC’s portfolio, making the stock its 12th largest position. Hunter Associates Investment Management LLC owned about 0.18% of Applied Digital worth $11,538,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in APLD. Strs Ohio grew its stake in shares of Applied Digital by 88.1% in the third quarter. Strs Ohio now owns 23,700 shares of the company’s stock worth $544,000 after purchasing an additional 11,100 shares in the last quarter. FWG Holdings LLC bought a new position in Applied Digital in the 3rd quarter valued at about $635,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Applied Digital in the 3rd quarter valued at about $483,000. Wealth Enhancement Advisory Services LLC acquired a new position in Applied Digital during the 3rd quarter valued at about $397,000. Finally, Yorktown Management & Research Co Inc bought a new stake in shares of Applied Digital during the 3rd quarter worth about $696,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Key Headlines Impacting Applied Digital

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

• Positive Sentiment: Unusually large call-option activity: Traders bought ~164,196 APLD call options on Friday (≈36% above typical call volume), signaling heightened bullish positioning that can amplify upward price moves.
• Positive Sentiment: Delta Forge 1 groundbreak — capacity expansion: Applied Digital announced it has broken ground on Delta Forge 1, a campus designed for 430 MW total utility power (initially enabling ~300 MW IT load) to serve hyperscalers and AI workloads. This materially increases future revenue capacity and supports the company’s long-term AI infrastructure thesis. Delta Forge 1 groundbreak
• Positive Sentiment: Analyst upgrade: Texas Capital upgraded APLD to a “strong-buy,” which can attract additional institutional interest and support higher valuation expectations. Analyst upgrade
• Neutral Sentiment: Macro/strategic analysis: A Seeking Alpha piece frames Applied Digital as a fast-growing AI data-center operator with meaningful pipeline (cited ~$16B prospective lease revenue across 600 MW) but notes the business is at a “sensitive juncture”—highlighting growth potential alongside execution and financing risk. Seeking Alpha analysis
• Neutral Sentiment: Earnings transcripts available: Recent Q4 2024 and Q2 2025 earnings transcripts were published; prior quarter showed strong revenue growth (reported +250% YoY) but an EPS miss and negative margins — data investors will parse for guidance, unit economics and customer/booking details. Q4 transcript: Q4 2024 transcript — Q2 transcript: Q2 2025 transcript
• Negative Sentiment: Caution from media personality: Jim Cramer mentioned APLD and urged investors to “take profits,” a short-term bearish sentiment that can trigger profit-taking among retail holders. Jim Cramer take-profits remark

Analyst Ratings Changes

APLD has been the subject of several recent analyst reports. HC Wainwright increased their price objective on shares of Applied Digital from $20.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 10th. Needham & Company LLC restated a “buy” rating and issued a $41.00 target price on shares of Applied Digital in a research report on Thursday, January 8th. Arete Research initiated coverage on Applied Digital in a research report on Wednesday, January 7th. They set a “buy” rating on the stock. Texas Capital raised Applied Digital to a “strong-buy” rating in a research note on Tuesday. Finally, Northland Securities restated an “outperform” rating and issued a $40.00 price objective on shares of Applied Digital in a report on Tuesday, December 30th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.27.

Applied Digital Stock Performance

Shares of NASDAQ APLD opened at $37.69 on Friday. Applied Digital Corporation has a 52-week low of $3.31 and a 52-week high of $40.20. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of -69.80 and a beta of 6.89. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 1.79. The stock’s fifty day simple moving average is $28.76 and its 200 day simple moving average is $23.56.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Wednesday, January 7th. The company reported ($0.11) earnings per share 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 net margin of 43.49% and a negative return on equity of 13.53%. During the same quarter last year, the business earned ($0.06) EPS. The company’s revenue for the quarter was up 250.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of the business’s 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 sale, the director directly owned 200,859 shares of the company’s stock, valued at $7,741,105.86. The trade was a 4.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Wes Cummins sold 165,000 shares of the firm’s 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 disclosure for this sale is available in the SEC filing. Insiders have sold 368,053 shares of company stock valued at $13,251,886 over the last three months. 9.50% of the stock is owned by insiders.

About Applied Digital

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.