Applied Digital Co. (NASDAQ:APLD) Shares Sold by 272 Capital LP

272 Capital LP trimmed its stake in Applied Digital Co. (NASDAQ:APLD) by 55.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 727,483 shares of the company’s stock after selling 903,970 shares during the quarter. Applied Digital comprises 6.6% of 272 Capital LP’s portfolio, making the stock its 2nd largest position. 272 Capital LP owned about 0.34% of Applied Digital worth $6,002,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of APLD. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Applied Digital in the 3rd quarter valued at about $59,000. Headlands Technologies LLC lifted its position in Applied Digital by 381.8% during the second quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock valued at $52,000 after buying an additional 6,933 shares in the last quarter. ARS Investment Partners LLC purchased a new stake in Applied Digital during the second quarter worth approximately $60,000. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of Applied Digital in the third quarter worth $83,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Applied Digital in the 3rd quarter valued at $88,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Insider Buying and Selling

In other Applied Digital news, Director Richard N. Nottenburg sold 80,000 shares of Applied Digital stock in a transaction on Monday, October 14th. The stock was sold at an average price of $7.37, for a total transaction of $589,600.00. Following the sale, the director now owns 433,686 shares of the company’s stock, valued at $3,196,265.82. The trade was a 15.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wes Cummins sold 200,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $9.20, for a total transaction of $1,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,875,955 shares of the company’s stock, valued at $35,658,786. The trade was a 4.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 369,369 shares of company stock worth $3,170,161 over the last quarter. 11.81% of the stock is owned by company insiders.

Applied Digital Stock Up 4.6 %

NASDAQ APLD opened at $10.10 on Friday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $10.94. The company’s fifty day moving average price is $7.97 and its two-hundred day moving average price is $6.01.

Applied Digital (NASDAQ:APLD) last released its earnings results on Wednesday, October 9th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.13. The company had revenue of $60.70 million for the quarter, compared to the consensus estimate of $54.85 million. Applied Digital had a negative return on equity of 88.87% and a negative net margin of 74.95%. Applied Digital’s quarterly revenue was up 67.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) EPS. Equities analysts anticipate that Applied Digital Co. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. HC Wainwright increased their price target on Applied Digital from $5.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Roth Mkm reiterated a “buy” rating and issued a $10.00 target price on shares of Applied Digital in a research note on Thursday, October 10th. Craig Hallum upped their price target on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Applied Digital in a research note on Friday, November 1st. Finally, Lake Street Capital boosted their target price on shares of Applied Digital from $7.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital has an average rating of “Buy” and a consensus price target of $10.50.

Applied Digital Company Profile

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.