Blair William & Co. IL Grows Position in Applied Digital Co. (NASDAQ:APLD)

Blair William & Co. IL grew its position in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 444.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,260 shares of the company's stock after purchasing an additional 67,160 shares during the quarter. Blair William & Co. IL's holdings in Applied Digital were worth $628,000 as of its most recent SEC filing.

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Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Applied Digital by 39.1% in the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock valued at $97,487,000 after buying an additional 3,587,619 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Applied Digital by 113.8% in the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock valued at $33,649,000 after purchasing an additional 2,344,572 shares in the last quarter. American Century Companies Inc. acquired a new position in Applied Digital in the 4th quarter worth about $12,843,000. Geode Capital Management LLC boosted its position in Applied Digital by 48.7% during the third quarter. Geode Capital Management LLC now owns 3,061,160 shares of the company's stock worth $25,258,000 after purchasing an additional 1,002,862 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Applied Digital by 100.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,798,431 shares of the company's stock valued at $13,740,000 after purchasing an additional 899,138 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Trading Down 9.3 %

APLD opened at $5.66 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The company's 50 day simple moving average is $7.48 and its two-hundred day simple moving average is $7.98. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -3.27 and a beta of 5.18. Applied Digital Co. has a 1-year low of $2.36 and a 1-year high of $12.48.

• MarketBeat Week in Review – 9/9 - 9/13

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.08. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The company had revenue of $63.87 million for the quarter, compared to analyst estimates of $62.41 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The firm's revenue for the quarter was up 51.3% compared to the same quarter last year. Analysts expect that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. HC Wainwright increased their target price on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Cantor Fitzgerald decreased their price objective on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Northland Securities lifted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, February 4th. Compass Point initiated coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price target for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of Applied Digital in a report on Monday, February 24th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $12.11.

• Is Applied Digital's Stock Set to Surge With NVIDIA's Backing?

Get Our Latest Stock Report on Applied Digital

Insider Activity

In other news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $177,000.00. Following the sale, the director now owns 342,923 shares of the company's stock, valued at approximately $3,034,868.55. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.81% of the company's stock.

Applied Digital 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.

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