Applied Digital Corporation $APLD Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D cut its stake in Applied Digital by 30.0% in Q4, selling 40,447 shares and leaving 94,433 shares worth $2.315 million.
• Applied Digital missed EPS expectations (Q: -$0.36 vs. est. -$0.13) but reported revenue of $108.55 million—beating estimates and up 139% year-over-year, while the company remains unprofitable with a negative net margin.
• Insiders sold 35,000 shares in the past 90 days (including directors Richard Nottenburg and Douglas Miller) in transactions totaling about $1.18 million; insiders now own 9.5% of the company.

State of New Jersey Common Pension Fund D decreased its holdings in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,433 shares of the company's stock after selling 40,447 shares during the period. State of New Jersey Common Pension Fund D's holdings in Applied Digital were worth $2,315,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new stake in shares of Applied Digital during the 4th quarter worth approximately $25,000. Albion Financial Group UT acquired a new stake in shares of Applied Digital during the 4th quarter worth approximately $25,000. Larson Financial Group LLC increased its holdings in shares of Applied Digital by 56,450.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,131 shares of the company's stock worth $26,000 after buying an additional 1,129 shares during the last quarter. Dagco Inc. acquired a new stake in shares of Applied Digital during the 3rd quarter worth approximately $27,000. Finally, GAMMA Investing LLC increased its holdings in shares of Applied Digital by 87.5% during the 4th quarter. GAMMA Investing LLC now owns 1,376 shares of the company's stock worth $34,000 after buying an additional 642 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 subject of a number of recent analyst reports. Citigroup restated an "outperform" rating on shares of Applied Digital in a report on Wednesday, January 28th. Texas Capital raised shares of Applied Digital to a "strong-buy" rating in a research report on Tuesday, January 20th. Wall Street Zen cut shares of Applied Digital from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Applied Digital in a research report on Friday, April 24th. Finally, Northland Securities set a $56.00 price objective on shares of Applied Digital in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $44.33.

Applied Digital Stock Performance

NASDAQ:APLD opened at $41.53 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market capitalization of $11.87 billion, a P/E ratio of -56.12 and a beta of 5.69. The company has a 50 day moving average price of $28.99 and a 200 day moving average price of $30.13. Applied Digital Corporation has a fifty-two week low of $5.13 and a fifty-two week high of $44.25.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 8th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.23). The company had revenue of $108.55 million for the quarter, compared to analysts' expectations of $78.47 million. Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The business's revenue for the quarter was up 139.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) EPS. Equities research analysts forecast that Applied Digital Corporation will post -0.52 EPS for the current year.

Insider Buying and Selling at Applied Digital

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

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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