40,300 Shares in Applied Digital Corporation $APLD Purchased by Mandatum Life Insurance Co Ltd

Key Points

• Mandatum Life purchased a new position of 40,300 shares of Applied Digital (APLD) in Q3, valued at about $924,000, while other institutions (e.g., BNP Paribas and Situational Awareness) substantially increased holdings, leaving institutional investors with roughly 65.67% ownership.
• Insiders sold material stock recently—directors sold 12,000 and 45,987 shares—and insiders have disposed of 244,593 shares worth $9.0M in the last 90 days, leaving insiders with about 9.50% ownership.
• APLD recently traded near $38.23 with a 52-week range of $3.31–$42.27 and a market cap of $10.69B; analyst consensus is Buy (average target $34.73) with several firms issuing "Strong Buy" ratings.

Mandatum Life Insurance Co Ltd purchased a new position in shares of Applied Digital Corporation (NASDAQ:APLD - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 40,300 shares of the company's stock, valued at approximately $924,000.

Several other hedge funds also recently modified their holdings of APLD. BNP Paribas Financial Markets lifted its holdings in shares of 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 buying an additional 5,198,223 shares during the period. Situational Awareness LP raised its position in shares of Applied Digital by 63.3% during the second quarter. Situational Awareness LP now owns 6,591,800 shares of the company's stock worth $66,379,000 after purchasing an additional 2,556,200 shares during the period. HRT Financial LP purchased a new stake in shares of Applied Digital during the second quarter valued at $14,759,000. Voya Investment Management LLC boosted its position in shares of Applied Digital by 403.4% in the 3rd quarter. Voya Investment Management LLC now owns 1,464,909 shares of the company's stock valued at $33,605,000 after purchasing an additional 1,173,929 shares during the period. Finally, Shellback Capital LP purchased a new position in Applied Digital in the 2nd quarter worth about $9,063,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Digital

In related news, Director Richard N. Nottenburg sold 12,000 shares of the firm's stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $35.45, for a total transaction of $425,400.00. Following the transaction, the director owned 233,378 shares of the company's stock, valued at approximately $8,273,250.10. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chuck Hastings sold 45,987 shares of the business's stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $38.57, for a total transaction of $1,773,718.59. Following the completion of the sale, the director directly owned 388,372 shares of the company's stock, valued at $14,979,508.04. This represents a 10.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 244,593 shares of company stock worth $9,003,278 in the last ninety days. Insiders own 9.50% of the company's stock.

Applied Digital Stock Performance

Shares of APLD stock opened at $38.23 on Tuesday. Applied Digital Corporation has a fifty-two week low of $3.31 and a fifty-two week high of $42.27. The stock's 50-day moving average is $31.36 and its two-hundred day moving average is $25.73. 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 firm has a market cap of $10.69 billion, a P/E ratio of -70.80 and a beta of 7.25.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Arete Research started coverage on shares of Applied Digital in a research note on Wednesday, January 7th. They set a "buy" rating for the company. Lake Street Capital restated a "buy" rating and set a $45.00 price target on shares of Applied Digital in a report on Tuesday, December 30th. Texas Capital upgraded shares of Applied Digital to a "strong-buy" rating in a research report on Tuesday, January 20th. Northland Securities set a $56.00 price objective on shares of Applied Digital in a research report on Wednesday, January 28th. Finally, Freedom Capital raised shares of Applied Digital to a "strong-buy" rating in a research note on Tuesday, January 6th. Three 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. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $34.73.

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.

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