Vanguard Group Inc. Acquires 3,339,062 Shares of Applied Digital Corporation $APLD

Vanguard Group Inc. lifted its stake in Applied Digital Corporation (NASDAQ:APLD) by 23.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,722,174 shares of the company’s stock after acquiring an additional 3,339,062 shares during the period. Vanguard Group Inc. owned approximately 0.06% of Applied Digital worth $406,547,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new stake in Applied Digital in the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Applied Digital during the 2nd quarter worth about $26,000. Dagco Inc. acquired a new position in shares of Applied Digital during the third quarter valued at about $27,000. Evolution Wealth Management Inc. lifted its stake in shares of 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 buying an additional 807 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Applied Digital by 113.3% in the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock valued at $37,000 after buying an additional 3,542 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on APLD shares. Lake Street Capital restated a “buy” rating and set a $45.00 price target on shares of Applied Digital in a research note on Tuesday, December 30th. Roth Mkm reissued a “buy” rating on shares of Applied Digital in a report on Tuesday, February 17th. Wall Street Zen upgraded Applied Digital from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Northland Securities set a $56.00 target price on Applied Digital in a research note on Wednesday, January 28th. Finally, Texas Capital raised Applied Digital to a “strong-buy” rating in a research report on Tuesday, January 20th. Two 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 MarketBeat.com, Applied Digital has an average rating of “Buy” and a consensus price target of $37.00.

Insider Buying and Selling

In other Applied Digital news, Director Richard N. Nottenburg sold 12,000 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $35.45, for a total value of $425,400.00. Following the sale, the director directly owned 233,378 shares in the company, valued at $8,273,250.10. This represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $38.54, for a total value of $385,400.00. Following the transaction, the director owned 200,859 shares of the company’s stock, valued at $7,741,105.86. This represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 244,593 shares of company stock worth $9,003,278 in the last quarter. Corporate insiders own 9.50% of the company’s stock.

Applied Digital Stock Down 1.5%

NASDAQ APLD opened at $28.65 on Friday. Applied Digital Corporation has a 1-year low of $3.31 and a 1-year high of $42.27. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of -53.06 and a beta of 7.25. The stock’s 50 day moving average is $32.51 and its two-hundred day moving average is $27.36. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 1.79.

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.