Teacher Retirement System of Texas Takes Position in Applied Digital Corporation (NASDAQ:APLD)

Teacher Retirement System of Texas acquired a new position in Applied Digital Corporation (NASDAQ:APLD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 24,737 shares of the company's stock, valued at approximately $139,000.

Several other large investors also recently modified their holdings of APLD. Hood River Capital Management LLC lifted its position in Applied Digital by 10.7% during the fourth quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company's stock valued at $115,726,000 after purchasing an additional 1,464,854 shares in the last quarter. Vanguard Group Inc. lifted its position in Applied Digital by 39.1% during the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock valued at $97,487,000 after purchasing an additional 3,587,619 shares in the last quarter. Geode Capital Management LLC lifted its position in Applied Digital by 54.4% during the fourth quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock valued at $36,117,000 after purchasing an additional 1,665,335 shares in the last quarter. Pertento Partners LLP lifted its position in Applied Digital by 49.0% during the fourth quarter. Pertento Partners LLP now owns 2,528,717 shares of the company's stock valued at $19,319,000 after purchasing an additional 831,705 shares in the last quarter. Finally, Think Investments LP lifted its position in Applied Digital by 27.3% during the fourth quarter. Think Investments LP now owns 2,060,136 shares of the company's stock valued at $15,739,000 after purchasing an additional 441,291 shares in the last quarter. Institutional investors own 65.67% of the company's stock.

Insider Activity at Applied Digital

In other news, Director Rachel H. Lee sold 24,212 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $7.00, for a total transaction of $169,484.00. Following the completion of the sale, the director owned 83,613 shares in the company, valued at approximately $585,291. This represents a 22.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.81% of the company's stock.

Applied Digital Stock Up 2.5%

Applied Digital stock traded up $0.27 during mid-day trading on Thursday, reaching $11.20. 19,768,209 shares of the company were exchanged, compared to its average volume of 31,298,300. Applied Digital Corporation has a 12-month low of $3.01 and a 12-month high of $15.42. The business has a fifty day moving average of $9.99 and a 200 day moving average of $7.90. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $2.52 billion, a P/E ratio of -8.18 and a beta of 6.04.

Wall Street Analysts Forecast Growth

APLD has been the topic of several analyst reports. Citigroup reiterated an "outperform" rating on shares of Applied Digital in a research report on Tuesday, June 3rd. Compass Point reaffirmed a "neutral" rating and issued a $13.00 target price (up from $10.00) on shares of Applied Digital in a report on Monday, June 9th. B. Riley boosted their price objective on Applied Digital from $8.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of Applied Digital in a research note on Monday, June 2nd. Finally, JMP Securities upped their target price on Applied Digital from $12.00 to $18.00 and gave the company a "market outperform" rating in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Applied Digital presently has an average rating of "Buy" and an average price target of $12.73.

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.