Applied Digital Corporation $APLD Shares Sold by Virtu Financial LLC

Virtu Financial LLC cut its stake in shares of Applied Digital Corporation (NASDAQ:APLD) by 16.6% during the fourth quarter, Holdings Channel reports. The firm owned 115,953 shares of the company’s stock after selling 23,068 shares during the quarter. Virtu Financial LLC’s holdings in Applied Digital were worth $2,843,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of APLD. AQR Capital Management LLC boosted its position in shares of Applied Digital by 84.8% in the 1st quarter. AQR Capital Management LLC now owns 18,945 shares of the company’s stock valued at $106,000 after purchasing an additional 8,692 shares during the period. NewEdge Advisors LLC increased its stake in Applied Digital by 239.1% in the 1st quarter. NewEdge Advisors LLC now owns 33,267 shares of the company’s stock worth $187,000 after purchasing an additional 23,457 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Applied Digital by 113.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock worth $37,000 after buying an additional 3,542 shares during the period. Strs Ohio acquired a new stake in Applied Digital during the 1st quarter worth about $71,000. Finally, Cetera Investment Advisers lifted its stake in Applied Digital by 61.0% during the second quarter. Cetera Investment Advisers now owns 61,656 shares of the company’s stock valued at $621,000 after buying an additional 23,360 shares in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Applied Digital

In other news, Director Richard N. Nottenburg sold 12,500 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $34.59, for a total value of $432,375.00. Following the transaction, the director owned 208,378 shares in the company, valued at $7,207,795.02. This represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the sale, the director directly owned 184,859 shares of the company’s stock, valued at $6,466,367.82. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 35,000 shares of company stock worth $1,182,175 in the last quarter. 9.50% of the stock is owned by corporate insiders.

Applied Digital Stock Up 2.2%

NASDAQ:APLD opened at $46.59 on Friday. The firm has a market capitalization of $13.31 billion, a price-to-earnings ratio of -62.96 and a beta of 5.69. Applied Digital Corporation has a 1-year low of $9.02 and a 1-year high of $50.72. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.65. The business’s fifty day moving average price is $39.65 and its 200 day moving average price is $33.37.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on APLD shares. B. Riley Financial reiterated a “buy” rating and issued a $66.00 target price (up from $53.00) on shares of Applied Digital in a report on Wednesday, May 27th. Compass Point restated a “buy” rating and set a $70.00 price target on shares of Applied Digital in a report on Friday, May 22nd. Roth Mkm restated a “buy” rating and issued a $65.00 price target on shares of Applied Digital in a research report on Thursday, April 23rd. Wall Street Zen downgraded shares of Applied Digital from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Craig Hallum raised their price objective on shares of Applied Digital from $75.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Applied Digital currently has an average rating of “Moderate Buy” and an average target price of $70.56.

Applied Digital Company 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.