Nicholas Investment Partners LP Sells 106,526 Shares of Applied Digital Corporation $APLD

Nicholas Investment Partners LP cut its stake in Applied Digital Corporation (NASDAQ:APLD) by 51.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,393 shares of the company’s stock after selling 106,526 shares during the quarter. Nicholas Investment Partners LP’s holdings in Applied Digital were worth $2,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of APLD. Vanguard Group Inc. increased its stake in shares of Applied Digital by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 24,168,082 shares of the company’s stock valued at $592,601,000 after acquiring an additional 6,445,908 shares during the last quarter. Situational Awareness LP increased its stake in shares of Applied Digital by 87.0% in the 4th quarter. Situational Awareness LP now owns 11,339,060 shares of the company’s stock valued at $278,034,000 after acquiring an additional 5,274,905 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Applied Digital by 24,356.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock valued at $52,561,000 after acquiring an additional 5,198,223 shares during the last quarter. Marex Group plc increased its stake in shares of Applied Digital by 38,484.6% in the 4th quarter. Marex Group plc now owns 3,904,759 shares of the company’s stock valued at $95,745,000 after acquiring an additional 3,894,639 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in Applied Digital during the 3rd quarter worth approximately $69,535,000. 65.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the transaction, the director directly owned 184,859 shares in the company, valued at $6,466,367.82. This represents a 5.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard N. Nottenburg sold 12,500 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $34.59, for a total transaction of $432,375.00. Following the transaction, the director owned 208,378 shares of the company’s stock, valued at approximately $7,207,795.02. This represents a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 35,000 shares of company stock valued at $1,182,175. Insiders own 9.50% of the company’s stock.

Applied Digital Price Performance

NASDAQ APLD opened at $42.70 on Friday. The business has a 50 day simple moving average of $37.94 and a 200 day simple moving average of $32.72. Applied Digital Corporation has a 52-week low of $9.02 and a 52-week high of $50.72. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of -57.70 and a beta of 5.69.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $108.55 million for the quarter, compared to analyst estimates of $78.47 million. During the same period last year, the company earned ($0.08) EPS. The company’s revenue was up 139.3% compared to the same quarter last year. Analysts anticipate that Applied Digital Corporation will post -0.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APLD has been the subject of a number of research reports. Compass Point reissued a “buy” rating and set a $70.00 target price on shares of Applied Digital in a research note on Friday, May 22nd. Lucid Cap Mkts raised Applied Digital to a “strong-buy” rating in a research note on Wednesday, May 27th. Citigroup reissued a “market outperform” rating on shares of Applied Digital in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Applied Digital in a research note on Friday, April 24th. Finally, Craig Hallum increased their target price on Applied Digital from $75.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Applied Digital currently has an average rating of “Moderate Buy” and an average target price of $67.67.

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.