Commonwealth Equity Services LLC Increases Stock Position in Applied Digital Corporation $APLD

Commonwealth Equity Services LLC boosted its stake in Applied Digital Corporation (NASDAQ:APLD) by 27.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,898 shares of the company’s stock after purchasing an additional 28,344 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Applied Digital were worth $3,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Applied Digital by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 24,168,082 shares of the company’s stock valued at $592,601,000 after purchasing an additional 6,445,908 shares in the last quarter. Situational Awareness LP raised its stake 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 in the last quarter. Geode Capital Management LLC raised its stake in Applied Digital by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 6,285,820 shares of the company’s stock valued at $154,151,000 after purchasing an additional 304,228 shares in the last quarter. BNP Paribas Financial Markets raised its stake 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 in the last quarter. Finally, Marex Group plc raised its stake 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 in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

Applied Digital Trading Up 2.4%

APLD stock opened at $41.91 on Wednesday. The company has a market capitalization of $11.98 billion, a PE ratio of -56.63 and a beta of 5.69. Applied Digital Corporation has a one year low of $9.02 and a one year high of $50.72. The company’s 50 day moving average price is $36.85 and its two-hundred day moving average price is $32.38. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.23). The business had revenue of $108.55 million for the quarter, compared to analysts’ expectations of $78.47 million. Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The company’s revenue was up 139.3% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share. As a group, analysts predict that Applied Digital Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Activity at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 12,500 shares of Applied Digital stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $34.59, for a total transaction of $432,375.00. Following the transaction, the director directly owned 208,378 shares of the company’s stock, valued at approximately $7,207,795.02. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital 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 transaction, the director directly owned 184,859 shares in the company, valued at $6,466,367.82. This trade represents a 5.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 35,000 shares of company stock worth $1,182,175 over the last three months. Insiders own 9.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APLD. Lucid Cap Mkts raised shares of Applied Digital to a “strong-buy” rating in a research note on Wednesday, May 27th. Needham & Company LLC raised their target price on shares of Applied Digital from $66.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen downgraded shares of Applied Digital from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Lake Street Capital raised their target price on shares of Applied Digital from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Applied Digital in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $67.67.

Key Stories Impacting Applied Digital

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Applied Digital signed a 15-year, 210 MW lease with a U.S.-based investment-grade hyperscaler at its Delta Forge 2 campus, adding about $5.2 billion in contracted revenue and bringing total contracted portfolio value to roughly $36 billion across five campuses. Applied Digital signs $5.2 billion AI data center lease with U.S. hyperscaler
• Positive Sentiment: The company also signed a third hyperscaler lease in six weeks, further validating demand for its AI infrastructure and reinforcing visibility into future revenue. B. Riley pins APLD stock price at $66 after new lease signing
• Positive Sentiment: Analysts turned more bullish, with multiple firms raising price targets on the stock after the new lease announcements, signaling higher expected upside from current levels. Applied Digital Stock In Focus: Company Signs Fifth AI Campus Deal, Raises $1.59 Billion
• Neutral Sentiment: Applied Digital announced a $1.59 billion senior secured notes offering to fund the fourth building at Polaris Forge 1; while the debt raise supports growth, it also adds leverage and introduces financing execution risk. Applied Digital Announces Pricing of $1.59 Billion of Senior Secured Notes to fund the Fourth Building at Polaris Forge 1
• Neutral Sentiment: The stock was also added to a Zacks Strong Sell list, which may temper enthusiasm, though this is outweighed today by the large contract wins and analyst upgrades. New Strong Sell Stocks for June 9th

Applied Digital 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.