Applied Digital Corporation $APLD Shares Acquired by NFSG Corp

Key Points

• NFSG Corp increased its stake in Applied Digital by 1,006.4% in the first quarter, ending with 42,042 shares valued at about $998,000.
• Analysts remain mixed but generally positive on APLD, with a consensus rating of Moderate Buy and an average price target of $70.56; several firms recently raised targets as high as $90.
• The stock was trading around $28.47 and recent insider activity has leaned toward selling, including director share sales totaling 35,000 shares over the last three months.

NFSG Corp grew its position in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 1,006.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,042 shares of the company's stock after acquiring an additional 38,242 shares during the quarter. NFSG Corp's holdings in Applied Digital were worth $998,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. raised its stake in Applied Digital by 8.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,800 shares of the company's stock valued at $93,000 after purchasing an additional 300 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Applied Digital by 1.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 21,332 shares of the company's stock worth $523,000 after purchasing an additional 318 shares during the last quarter. Brookstone Capital Management boosted its stake in Applied Digital by 3.6% during the 4th quarter. Brookstone Capital Management now owns 9,275 shares of the company's stock worth $227,000 after purchasing an additional 321 shares during the last quarter. Independent Advisor Alliance grew its holdings in shares of Applied Digital by 4.6% during the fourth quarter. Independent Advisor Alliance now owns 9,215 shares of the company's stock worth $226,000 after buying an additional 407 shares in the last quarter. Finally, Vermillion Wealth Management Inc. grew its holdings in shares of Applied Digital by 29.4% during the first quarter. Vermillion Wealth Management Inc. now owns 2,563 shares of the company's stock worth $61,000 after buying an additional 583 shares in the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on APLD. Wall Street Zen cut shares of Applied Digital from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Northland Securities set a $82.00 price target on shares of Applied Digital and gave the stock an "outperform" rating in a research report on Wednesday, June 17th. Craig Hallum increased their price objective on shares of Applied Digital from $75.00 to $79.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Applied Digital in a research note on Friday, April 24th. Finally, Lake Street Capital raised their target price on shares of Applied Digital from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $70.56.

Applied Digital Stock Down 1.3%

Shares of APLD opened at $28.47 on Wednesday. Applied Digital Corporation has a 52-week low of $9.60 and a 52-week high of $50.72. 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 stock has a fifty day simple moving average of $41.27 and a two-hundred day simple moving average of $34.42. The company has a market capitalization of $8.14 billion, a PE ratio of -38.47 and a beta of 5.67.

Insider Transactions at Applied Digital

In related news, Director Douglas S. Miller sold 10,000 shares of the company's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.98, for a total value of $349,800.00. Following the completion of the sale, the director owned 184,859 shares of the company's stock, valued at approximately $6,466,367.82. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard N. Nottenburg sold 12,500 shares of the firm's 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 sale, the director owned 208,378 shares of the company's stock, valued at approximately $7,207,795.02. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 35,000 shares of company stock valued at $1,182,175 in the last three months. 9.50% of the stock is currently owned by insiders.

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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