42,636 Shares in Applied Digital Corporation $APLD Bought by MRA Advisory Group

Key Points

• MRA Advisory Group opened a new position in Applied Digital, acquiring 42,636 shares valued at about $978,000 in the third quarter per its 13F filing.
• Company insiders have been net sellers recently — directors Douglas S. Miller and Chuck Hastings sold significant blocks, and insiders disposed of 244,593 shares (about $9.0M) over the last three months, leaving insiders with 9.5% ownership.
• Wall Street sentiment is mostly positive with a consensus "Buy" rating and an average target of $34.73, while APLD trades around $35.28 and has a 52‑week range of $3.31–$42.27.

MRA Advisory Group acquired a new position in shares of Applied Digital Corporation (NASDAQ:APLD - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 42,636 shares of the company's stock, valued at approximately $978,000.

Several other institutional investors have also modified their holdings of the stock. Atlantic Union Bankshares Corp purchased a new stake in shares of Applied Digital during the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Applied Digital in the 2nd quarter worth about $26,000. Dagco Inc. purchased a new stake in Applied Digital during the 3rd quarter worth approximately $27,000. Evolution Wealth Management Inc. raised its holdings in shares of Applied Digital by 101.8% during the third quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company's stock valued at $37,000 after acquiring an additional 807 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Applied Digital by 113.3% in the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company's stock valued at $37,000 after acquiring an additional 3,542 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company's stock.

Insider Activity

In other news, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $38.54, for a total value of $385,400.00. Following the completion of the sale, the director owned 200,859 shares of the company's stock, valued at $7,741,105.86. This represents a 4.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Chuck Hastings sold 45,987 shares of the firm'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 sale, the director owned 388,372 shares of the company's stock, valued at $14,979,508.04. This represents a 10.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 244,593 shares of company stock valued at $9,003,278 over the last three months. 9.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on APLD shares. Craig Hallum boosted their price target on Applied Digital to $39.00 and gave the stock a "buy" rating in a research report on Thursday, October 23rd. Arete Research began coverage on shares of Applied Digital in a research note on Wednesday, January 7th. They set a "buy" rating on the stock. Roth Mkm increased their target price on shares of Applied Digital to $58.00 and gave the company a "buy" rating in a research report on Thursday, January 8th. Texas Capital upgraded shares of Applied Digital to a "strong-buy" rating in a research report on Tuesday, January 20th. Finally, Lake Street Capital reaffirmed a "buy" rating and set a $45.00 price objective on shares of Applied Digital in a research note on Tuesday, December 30th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Applied Digital currently has an average rating of "Buy" and a consensus target price of $34.73.

Applied Digital Stock Down 2.5%

NASDAQ APLD opened at $35.28 on Monday. The business's fifty day simple moving average is $31.87 and its 200-day simple moving average is $26.46. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 1.79. The firm has a market cap of $9.86 billion, a PE ratio of -65.33 and a beta of 7.25. Applied Digital Corporation has a 52 week low of $3.31 and a 52 week high of $42.27.

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.

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