43,342 Shares in Applied Digital Corporation $APLD Bought by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of Kentucky established a new position in Applied Digital, acquiring 43,342 shares worth about $994,000 in Q3, as institutional investors now own roughly 65.67% of the company.
• Significant insider selling occurred recently: CEO Wes Cummins sold 165,000 shares for about $6.01 million and a director sold 12,000 shares, with insiders offloading 244,593 shares (~$9.0M) over the past 90 days while retaining 9.5% ownership.
• Wall Street sentiment is broadly positive with an average rating of Buy and a $37 average target, despite a negative P/E (-46.54) and volatile trading (market cap $7.03B; 1‑year range $3.31–$42.27).

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Applied Digital Corporation (NASDAQ:APLD - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 43,342 shares of the company's stock, valued at approximately $994,000.

Other hedge funds have also bought and sold shares of the company. ProShare Advisors LLC raised its stake in shares of Applied Digital by 1.0% in the third quarter. ProShare Advisors LLC now owns 36,652 shares of the company's stock valued at $841,000 after acquiring an additional 376 shares during the period. PNC Financial Services Group Inc. grew its holdings in Applied Digital by 7.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,951 shares of the company's stock valued at $137,000 after purchasing an additional 408 shares during the last quarter. Wedbush Securities Inc. grew its holdings in Applied Digital by 5.7% during the 3rd quarter. Wedbush Securities Inc. now owns 10,785 shares of the company's stock valued at $247,000 after purchasing an additional 585 shares during the last quarter. Farther Finance Advisors LLC raised its position in Applied Digital by 51.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,306 shares of the company's stock worth $53,000 after purchasing an additional 787 shares during the period. Finally, Evolution Wealth Management Inc. raised its position in Applied Digital by 101.8% in the 3rd quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company's stock worth $37,000 after purchasing an additional 807 shares during the period. Institutional investors own 65.67% of the company's stock.

Insider Activity at Applied Digital

In other news, Director Richard N. Nottenburg sold 12,000 shares of Applied Digital 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 completion of the sale, the director owned 233,378 shares of the company's stock, valued at approximately $8,273,250.10. The trade was a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Wes Cummins sold 165,000 shares of the 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 transaction, the chief executive officer directly owned 4,176,329 shares in the company, valued at approximately $152,101,902.18. This trade represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 244,593 shares of company stock worth $9,003,278. Insiders own 9.50% of the company's stock.

Applied Digital Price Performance

Applied Digital stock opened at $25.13 on Friday. 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 stock has a market cap of $7.03 billion, a price-to-earnings ratio of -46.54 and a beta of 7.20. The firm has a 50-day moving average of $32.64 and a two-hundred day moving average of $27.87. Applied Digital Corporation has a 1 year low of $3.31 and a 1 year high of $42.27.

Wall Street Analyst Weigh In

Several research analysts have issued reports on APLD shares. Needham & Company LLC restated a "buy" rating and set a $41.00 target price on shares of Applied Digital in a research report on Thursday, January 8th. Lake Street Capital reiterated a "buy" rating and issued a $45.00 price target on shares of Applied Digital in a report on Tuesday, December 30th. Citigroup reissued an "outperform" rating on shares of Applied Digital in a research note on Wednesday, January 28th. Freedom Capital upgraded Applied Digital to a "strong-buy" rating in a report on Tuesday, January 6th. Finally, Roth Mkm reaffirmed a "buy" rating on shares of Applied Digital in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $37.00.

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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