Tactive Advisors LLC Sells 24,325 Shares of Applied Digital Corporation $APLD

Tactive Advisors LLC cut its position in Applied Digital Corporation (NASDAQ:APLD) by 13.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 151,517 shares of the company’s stock after selling 24,325 shares during the quarter. Applied Digital accounts for 1.0% of Tactive Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Tactive Advisors LLC’s holdings in Applied Digital were worth $3,597,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in APLD. Vanguard Group Inc. increased its holdings in shares of Applied Digital by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 24,168,082 shares of the company’s stock worth $592,601,000 after buying an additional 6,445,908 shares in the last quarter. Situational Awareness LP boosted its holdings 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 worth $278,034,000 after acquiring an additional 5,274,905 shares in the last quarter. Geode Capital Management LLC grew its position in Applied Digital by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 6,285,820 shares of the company’s stock worth $154,151,000 after acquiring an additional 304,228 shares during the last quarter. Value Aligned Research Advisors LLC bought a new stake in Applied Digital during the 4th quarter worth approximately $138,380,000. Finally, BNP Paribas Financial Markets grew its position in Applied Digital by 24,356.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock worth $52,561,000 after acquiring an additional 5,198,223 shares during the last quarter. 65.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on APLD shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Digital in a research report on Friday, April 24th. Wall Street Zen lowered Applied Digital from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Lucid Cap Mkts upgraded Applied Digital to a “strong-buy” rating in a report on Wednesday, May 27th. Needham & Company LLC raised their target price on Applied Digital from $66.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Finally, Lake Street Capital lifted their price target on Applied Digital from $70.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

Insiders Place Their Bets

In other news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction on Monday, April 27th. The stock was sold at an average price of $34.98, for a total value of $349,800.00. Following the completion of the sale, the director directly owned 184,859 shares of the company’s stock, valued at approximately $6,466,367.82. This trade represents a 5.13% 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 12,500 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $34.59, for a total value of $432,375.00. Following the sale, the director owned 208,378 shares of the company’s stock, valued at approximately $7,207,795.02. The trade was a 5.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 35,000 shares of company stock worth $1,182,175 over the last quarter. Corporate insiders own 9.50% of the company’s stock.

Applied Digital Price Performance

APLD opened at $46.59 on Monday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.38 and a quick ratio of 2.38. The stock has a market capitalization of $13.31 billion, a P/E ratio of -62.96 and a beta of 5.69. The company’s 50 day simple moving average is $40.02 and its 200-day simple moving average is $33.50. Applied Digital Corporation has a one year low of $9.02 and a one year high of $50.72.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings data on Wednesday, April 8th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $108.55 million during the quarter, compared to the consensus estimate of $78.47 million. During the same quarter last year, the firm earned ($0.08) EPS. The business’s revenue for the quarter was up 139.3% on a year-over-year basis. Sell-side analysts anticipate that Applied Digital Corporation will post -0.68 earnings per share for the current fiscal year.

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.