Jones Financial Companies Lllp Has $1.57 Million Position in Applied Digital Corporation $APLD

Jones Financial Companies Lllp grew its stake in Applied Digital Corporation (NASDAQ:APLD) by 108.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 72,391 shares of the company’s stock after acquiring an additional 37,588 shares during the period. Jones Financial Companies Lllp’s holdings in Applied Digital were worth $1,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in shares of Applied Digital by 51.8% in the third quarter. Farther Finance Advisors LLC now owns 2,306 shares of the company’s stock valued at $53,000 after purchasing an additional 787 shares during the last quarter. Evolution Wealth Management Inc. lifted its holdings in Applied Digital by 101.8% during the 3rd quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company’s stock worth $37,000 after purchasing an additional 807 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in Applied Digital by 6.0% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 15,930 shares of the company’s stock valued at $160,000 after purchasing an additional 900 shares during the period. CoreCap Advisors LLC grew its holdings in Applied Digital by 124.9% in the 3rd quarter. CoreCap Advisors LLC now owns 1,804 shares of the company’s stock valued at $41,000 after buying an additional 1,002 shares in the last quarter. Finally, Compass Ion Advisors LLC increased its position in Applied Digital by 9.9% during the 3rd quarter. Compass Ion Advisors LLC now owns 11,434 shares of the company’s stock worth $262,000 after buying an additional 1,034 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on APLD shares. Wall Street Zen raised shares of Applied Digital from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Craig Hallum boosted their price objective on shares of Applied Digital to $39.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Freedom Capital raised shares of Applied Digital to a “strong-buy” rating in a report on Tuesday, January 6th. Citigroup reiterated an “outperform” rating on shares of Applied Digital in a research report on Wednesday, January 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $41.00 price target on shares of Applied Digital in a research report on Thursday, January 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $34.73.

Applied Digital Price Performance

Shares of NASDAQ:APLD opened at $38.23 on Tuesday. The firm has a 50 day moving average of $31.36 and a 200-day moving average of $25.73. Applied Digital Corporation has a 12 month low of $3.31 and a 12 month high of $42.27. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $10.69 billion, a PE ratio of -70.80 and a beta of 7.25.

Insider Activity

In other news, CEO Wes Cummins sold 165,000 shares of Applied Digital stock in a transaction on Friday, January 16th. The stock was sold at an average price of $36.42, for a total value of $6,009,300.00. Following the transaction, the chief executive officer owned 4,176,329 shares in the company, valued at approximately $152,101,902.18. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $38.54, for a total value of $385,400.00. Following the transaction, the director directly owned 200,859 shares of the company’s stock, valued at $7,741,105.86. This trade represents a 4.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 244,593 shares of company stock valued at $9,003,278 in the last three months. Company insiders own 9.50% of the company’s stock.

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.