Applied Digital Corporation $APLD Shares Purchased by Janus Henderson Group PLC

Key Points

• Janus Henderson Group increased its Applied Digital stake by 318.5% in the first quarter, acquiring 597,548 additional shares for a total of 785,152 shares valued at approximately $18.6 million. Institutional investors collectively own 65.67% of the company.
• Wall Street sentiment remains positive, with a consensus “Buy” rating and an average price target of $68.05; recent targets range from $60 to $82.
• Applied Digital’s quarterly revenue surged 406.3% year over year to $240.35 million, but the company reported an adjusted loss of $0.39 per share, missing estimates of a $0.09 loss, alongside negative margins and return on equity.

Janus Henderson Group PLC boosted its stake in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 318.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 785,152 shares of the company's stock after buying an additional 597,548 shares during the period. Janus Henderson Group PLC owned approximately 0.27% of Applied Digital worth $18,638,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of APLD. Vanguard Group Inc. increased its position in shares of Applied Digital by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 24,168,082 shares of the company's stock valued at $592,601,000 after acquiring an additional 6,445,908 shares during the last quarter. Situational Awareness LP lifted its holdings in shares of Applied Digital by 18.9% in the 1st quarter. Situational Awareness LP now owns 13,478,438 shares of the company's stock worth $319,978,000 after acquiring an additional 2,139,378 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Applied Digital by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 6,285,820 shares of the company's stock worth $154,151,000 after purchasing an additional 304,228 shares during the period. Value Aligned Research Advisors LLC purchased a new position in shares of Applied Digital during the 4th quarter worth approximately $138,380,000. Finally, BNP Paribas Financial Markets increased its holdings in Applied Digital by 24,356.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company's stock valued at $52,561,000 after purchasing an additional 5,198,223 shares during the last quarter. Institutional investors and hedge funds own 65.67% of the company's stock.

Wall Street Analysts Forecast Growth

APLD has been the topic of a number of research analyst reports. Lucid Cap Mkts raised Applied Digital to a "strong-buy" rating in a research report on Wednesday, May 27th. Northland Securities set a $82.00 price target on Applied Digital and gave the stock an "outperform" rating in a research report on Wednesday, June 17th. Roth Capital reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Applied Digital in a research note on Thursday, April 23rd. Citizens Jmp boosted their price objective on Applied Digital from $40.00 to $60.00 and gave the company a "market outperform" rating in a report on Thursday, May 21st. Finally, B. Riley Financial reissued a "buy" rating and set a $75.00 target price (up from $66.00) on shares of Applied Digital in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $68.05.

Applied Digital Price Performance

Shares of APLD opened at $29.49 on Tuesday. Applied Digital Corporation has a fifty-two week low of $12.35 and a fifty-two week high of $50.72. The firm's 50 day moving average price is $36.92 and its 200 day moving average price is $34.26. The company has a market cap of $8.60 billion, a P/E ratio of -33.13 and a beta of 5.75. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 2.88.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its earnings results on Monday, July 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.30). The business had revenue of $240.35 million for the quarter, compared to analyst estimates of $96.85 million. Applied Digital had a negative return on equity of 16.42% and a negative net margin of 37.78%.Applied Digital's quarterly revenue was up 406.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.24) earnings per share. On average, research analysts forecast that Applied Digital Corporation will post -0.88 earnings per share for the current fiscal year.

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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