45,858 Shares in Applied Digital Corporation $APLD Acquired by Sigma Planning Corp

Key Points

• Sigma Planning Corp disclosed a new first-quarter stake in Applied Digital, buying 45,858 shares valued at about $1.09 million.
• Applied Digital continues to draw significant institutional interest, with institutions owning 65.67% of the stock overall.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus and an average target price of $70.56, though some firms have recently cut ratings.

Sigma Planning Corp acquired a new stake in shares of Applied Digital Corporation (NASDAQ:APLD - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 45,858 shares of the company's stock, valued at approximately $1,089,000.

Several other institutional investors and hedge funds have also recently modified their holdings of APLD. Cannon Capital Management Inc. purchased a new stake in Applied Digital in the 4th quarter worth $3,635,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Applied Digital during the fourth quarter valued at approximately $2,674,000. Prime Capital Investment Advisors LLC purchased a new position in Applied Digital during the 4th quarter valued at approximately $1,284,000. M&T Bank Corp bought a new stake in Applied Digital in the 4th quarter worth approximately $2,232,000. Finally, TFR Capital LLC. bought a new stake in Applied Digital in the 4th quarter worth approximately $1,741,000. Institutional investors own 65.67% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on APLD shares. Craig Hallum increased their target price on Applied Digital from $75.00 to $79.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Zacks Research lowered shares of Applied Digital from a "hold" rating to a "strong sell" rating in a research report on Monday, June 8th. Roth Capital restated a "buy" rating and issued a $65.00 target price on shares of Applied Digital in a report on Thursday, April 23rd. Citigroup restated a "market outperform" rating on shares of Applied Digital in a research report on Tuesday, June 9th. Finally, Lucid Cap Mkts raised shares of Applied Digital to a "strong-buy" rating in a report on Wednesday, May 27th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, Applied Digital currently has a consensus rating of "Moderate Buy" and an average target price of $70.56.

Applied Digital Stock Down 2.5%

NASDAQ APLD opened at $25.79 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65. The company has a fifty day moving average of $40.36 and a two-hundred day moving average of $34.40. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of -34.85 and a beta of 5.67. Applied Digital Corporation has a 52 week low of $9.79 and a 52 week high of $50.72.

Insider Activity

In related news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the transaction, the director directly owned 184,859 shares of the company's stock, valued at approximately $6,466,367.82. The trade was a 5.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Nottenburg sold 12,500 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $34.59, for a total transaction of $432,375.00. Following the completion of the sale, the director directly owned 208,378 shares in the company, valued at $7,207,795.02. This trade represents a 5.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 35,000 shares of company stock valued at $1,182,175 in the last 90 days. Company insiders own 9.50% of the company's stock.

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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