148,263 Shares in Applied Digital Corporation $APLD Acquired by Cannon Capital Management Inc.

Key Points

• Cannon Capital Management Inc. bought a new position of 148,263 shares of Applied Digital (≈$3.64M) in Q4, making APLD about 3.2% of Cannon’s portfolio and its 10th largest holding (Cannon owns ≈0.05% of the company).
• Applied Digital’s latest quarter showed a revenue beat ($108.6M vs. $78.5M expected) but an EPS miss (‑$0.36 vs. ‑$0.13 expected) with a negative net margin of 52.84%; analysts project about ‑0.52 EPS for the current year.
• Institutional ownership is high (65.67%), led by Vanguard’s 17.72M‑share stake (~$406.5M after adding 3.34M shares), and the analyst consensus is a Moderate Buy with an average target of $44.33 amid mixed ratings.

Cannon Capital Management Inc. purchased a new position in Applied Digital Corporation (NASDAQ:APLD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 148,263 shares of the company's stock, valued at approximately $3,635,000. Applied Digital accounts for approximately 3.2% of Cannon Capital Management Inc.'s investment portfolio, making the stock its 10th biggest holding. Cannon Capital Management Inc. owned approximately 0.05% of Applied Digital as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky bought a new position in shares of Applied Digital during the 3rd quarter valued at about $994,000. Federated Hermes Inc. bought a new stake in shares of Applied Digital in the third quarter worth about $3,204,000. AlphaQuest LLC purchased a new stake in shares of Applied Digital in the third quarter worth about $1,369,000. MRA Advisory Group bought a new position in Applied Digital during the third quarter valued at approximately $978,000. Finally, Vanguard Group Inc. boosted its stake in Applied Digital by 23.2% during the third quarter. Vanguard Group Inc. now owns 17,722,174 shares of the company's stock valued at $406,547,000 after buying an additional 3,339,062 shares during the last quarter. Institutional investors own 65.67% of the company's stock.

Applied Digital Price Performance

Shares of Applied Digital stock opened at $32.69 on Thursday. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of -44.18 and a beta of 7.25. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a 50 day moving average price of $28.22 and a 200-day moving average price of $30.05. Applied Digital Corporation has a one year low of $4.20 and a one year high of $42.27.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.23). The company had revenue of $108.55 million for the quarter, compared to analysts' expectations of $78.47 million. Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The business's quarterly revenue was up 139.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) EPS. Equities analysts expect that Applied Digital Corporation will post -0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APLD. Texas Capital raised Applied Digital to a "strong-buy" rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Applied Digital in a report on Friday, April 24th. Zacks Research cut shares of Applied Digital from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 8th. Citigroup reaffirmed an "outperform" rating on shares of Applied Digital in a research note on Wednesday, January 28th. Finally, Arete Research initiated coverage on shares of Applied Digital in a research report on Wednesday, January 7th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Applied Digital presently has a consensus rating of "Moderate Buy" and an average target price of $44.33.

Insider Buying and Selling at Applied Digital

In other news, Director Douglas S. Miller sold 10,000 shares of the firm's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.98, for a total value of $349,800.00. Following the completion of the sale, the director owned 184,859 shares in the company, valued at approximately $6,466,367.82. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.50% of the company's stock.

More Applied Digital News

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

• Positive Sentiment: Hyperscaler agreement improves long‑term revenue visibility — coverage frames a roughly $7.5B commercial opportunity tied to new hyperscaler commitments, which gives investors clearer multi‑year demand for Applied Digital’s AI/data‑center infrastructure. A $7.5 Billion Reason to Buy Applied Digital Stock Here
• Positive Sentiment: Analyst support (Roth Capital) — Roth reaffirmed a Buy rating and raised its price target, citing Applied Digital as a top high‑performance computing/data‑center investment as commercial traction solidifies. Roth Capital Reaffirms Buy Rating for Applied Digital (APLD)
• Positive Sentiment: Macro/sector narrative: selective buying opportunity — Market commentators point to high volatility in AI infrastructure names as creating selective entry points into smaller, high‑beta players like Applied Digital for investors seeking exposure to AI infra growth. Volatility Jackpot: Why This High-Risk AI Name Is Turning Heads Again
• Neutral Sentiment: Director sale disclosed — Director Douglas S. Miller sold 10,000 shares at about $34.98; he retains a large position. Insider sales can signal cashing‑out or routine diversification and may cause short‑term pressure. SEC Form 4 Disclosure
• Neutral Sentiment: Mixed analyst/ratings landscape — Institutional interest and multiple Buy ratings coexist with some Sell/strong‑sell opinions; consensus remains a Moderate Buy but analyst views vary, contributing to trading dispersion. MarketBeat APLD Coverage
• Negative Sentiment: AI spending and margin concerns triggered a pullback — Reports flagged investor worry that heavy AI capex and operating costs could pressure margins and cash flow, prompting a near‑term selloff in the stock. Applied Digital slides 7% after AI spending concerns

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.

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