Mitsubishi UFJ Asset Management Co. Ltd. Has $3.77 Million Holdings in Applied Digital Corporation $APLD

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Applied Digital Corporation (NASDAQ:APLD) by 13.2% in the third quarter, Holdings Channel.com reports. The firm owned 164,191 shares of the company’s stock after acquiring an additional 19,198 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Applied Digital were worth $3,767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of APLD. Hood River Capital Management LLC boosted its position in shares of Applied Digital by 2.8% during the second quarter. Hood River Capital Management LLC now owns 21,859,031 shares of the company’s stock worth $220,120,000 after buying an additional 592,314 shares during the period. Vanguard Group Inc. lifted its stake in Applied Digital by 23.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,722,174 shares of the company’s stock valued at $406,547,000 after acquiring an additional 3,339,062 shares in the last quarter. Situational Awareness LP boosted its position in Applied Digital by 63.3% during the 2nd quarter. Situational Awareness LP now owns 6,591,800 shares of the company’s stock worth $66,379,000 after acquiring an additional 2,556,200 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Applied Digital by 24,356.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock worth $52,561,000 after acquiring an additional 5,198,223 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Applied Digital by 24.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,661,296 shares of the company’s stock valued at $26,799,000 after purchasing an additional 514,896 shares during the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

Applied Digital Stock Down 6.4%

Applied Digital stock opened at $26.15 on Wednesday. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.82 and a quick ratio of 4.82. The company’s 50-day moving average is $32.51 and its 200-day moving average is $27.80. The firm has a market capitalization of $7.31 billion, a PE ratio of -48.43 and a beta of 7.20. Applied Digital Corporation has a fifty-two week low of $3.31 and a fifty-two week high of $42.27.

Analysts Set New Price Targets

Several research analysts recently commented on APLD shares. Lake Street Capital restated a “buy” rating and set a $45.00 target price on shares of Applied Digital in a report on Tuesday, December 30th. Arete Research started coverage on shares of Applied Digital in a research report on Wednesday, January 7th. They set a “buy” rating on the stock. Northland Securities set a $56.00 price objective on Applied Digital in a report on Wednesday, January 28th. Freedom Capital upgraded Applied Digital to a “strong-buy” rating in a report on Tuesday, January 6th. Finally, Roth Mkm reissued a “buy” rating on shares of Applied Digital in a research report on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Applied Digital has an average rating of “Buy” and a consensus target price of $37.00.

Insiders Place Their Bets

In other news, CEO Wes Cummins sold 165,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 4,176,329 shares of the company’s stock, valued at $152,101,902.18. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard N. Nottenburg sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $35.45, for a total value of $425,400.00. Following the transaction, the director directly owned 233,378 shares in the company, valued at $8,273,250.10. The trade was a 4.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 244,593 shares of company stock worth $9,003,278 over the last ninety days. 9.50% of the stock is currently owned by corporate insiders.

About Applied Digital

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.