Marathon Trading Investment Management LLC Takes $2.45 Million Position in Applied Digital Corporation $APLD

Marathon Trading Investment Management LLC acquired a new stake in shares of Applied Digital Corporation (NASDAQ:APLD) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $2,452,000. Applied Digital makes up about 0.1% of Marathon Trading Investment Management LLC’s holdings, making the stock its 25th biggest holding.

A number of other large investors have also recently made changes to their positions in APLD. Vanguard Group Inc. grew 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 valued at $592,601,000 after buying an additional 6,445,908 shares during the last quarter. Situational Awareness LP boosted its holdings in Applied Digital by 87.0% in the fourth quarter. Situational Awareness LP now owns 11,339,060 shares of the company’s stock valued at $278,034,000 after purchasing an additional 5,274,905 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Applied Digital by 24,356.8% in the second quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock valued at $52,561,000 after purchasing an additional 5,198,223 shares during the last quarter. Marex Group plc boosted its holdings in Applied Digital by 38,484.6% in the fourth quarter. Marex Group plc now owns 3,904,759 shares of the company’s stock valued at $95,745,000 after purchasing an additional 3,894,639 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in Applied Digital in the third quarter valued at $69,535,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Applied Digital Stock Performance

APLD stock opened at $42.70 on Monday. The company’s 50-day simple moving average is $37.94 and its 200-day simple moving average is $32.78. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65. Applied Digital Corporation has a 52-week low of $9.02 and a 52-week high of $50.72. The firm has a market cap of $12.20 billion, a P/E ratio of -57.70 and a beta of 5.69.

Applied Digital (NASDAQ:APLD) last posted its earnings results 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 firm had revenue of $108.55 million for the quarter, compared to analysts’ expectations of $78.47 million. During the same period in the previous year, the company earned ($0.08) earnings per share. The company’s revenue was up 139.3% compared to the same quarter last year. As a group, equities analysts forecast that Applied Digital Corporation will post -0.68 EPS for the current fiscal year.

Insider Activity

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 sale, the director directly owned 184,859 shares of the company’s stock, valued at $6,466,367.82. This represents a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the director directly owned 208,378 shares in the company, valued at approximately $7,207,795.02. The trade was a 5.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 35,000 shares of company stock worth $1,182,175. Corporate insiders own 9.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. B. Riley Financial reaffirmed a “buy” rating and issued a $66.00 price target (up from $53.00) on shares of Applied Digital in a report on Wednesday, May 27th. Compass Point reaffirmed a “buy” rating and issued a $70.00 price target on shares of Applied Digital in a report on Friday, May 22nd. Citigroup reaffirmed a “market outperform” rating on shares of Applied Digital in a report on Tuesday, June 9th. Lucid Cap Mkts raised shares of Applied Digital to a “strong-buy” rating in a report on Wednesday, May 27th. Finally, Lake Street Capital upped their price target on shares of Applied Digital from $70.00 to $90.00 and gave the company a “buy” rating in a report 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.67.

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.