Applied Digital Corporation $APLD Stock Position Lifted by Checchi Capital Advisers LLC

Key Points

• Checchi Capital Advisers LLC increased its stake in Applied Digital by 951.1% in Q4 to 199,073 shares (about $4.88M), and institutional investors now own 65.67% of the company.
• Applied Digital reported quarterly revenue of $108.55M (vs. $78.47M consensus), up 139.3% year‑over‑year, but missed on EPS at ($0.36) versus a ($0.13) consensus and posted a negative net margin of 52.84%.
• Analysts show a consensus rating of Moderate Buy with an average target of $42.78 (B. Riley raised its target to $53), while the stock carries a $9.2B market cap and a 52‑week range of $3.81–$42.27.

Checchi Capital Advisers LLC lifted its holdings in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 951.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,073 shares of the company's stock after purchasing an additional 180,133 shares during the quarter. Checchi Capital Advisers LLC owned 0.07% of Applied Digital worth $4,881,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of APLD. Noble Wealth Management PBC bought a new position in shares of Applied Digital in the fourth quarter worth $25,000. Albion Financial Group UT bought a new position in shares of Applied Digital in the fourth quarter worth $25,000. Larson Financial Group LLC grew its stake in shares of Applied Digital by 56,450.0% in the third quarter. Larson Financial Group LLC now owns 1,131 shares of the company's stock worth $26,000 after purchasing an additional 1,129 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Applied Digital in the second quarter worth $26,000. Finally, Dagco Inc. bought a new position in shares of Applied Digital in the third quarter worth $27,000. Institutional investors own 65.67% of the company's stock.

Applied Digital Trading Up 2.1%

Shares of APLD stock opened at $32.19 on Tuesday. The stock has a 50-day simple moving average of $28.48 and a 200 day simple moving average of $29.83. Applied Digital Corporation has a fifty-two week low of $3.81 and a fifty-two week high of $42.27. The stock has a market capitalization of $9.20 billion, a P/E ratio of -43.50 and a beta of 7.25. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.23). Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The firm had revenue of $108.55 million for the quarter, compared to the consensus estimate of $78.47 million. During the same period in the prior year, the business earned ($0.08) EPS. The company's quarterly revenue was up 139.3% compared to the same quarter last year. On average, sell-side analysts expect that Applied Digital Corporation will post -0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Chuck Hastings sold 45,987 shares of the firm's stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $38.57, for a total transaction of $1,773,718.59. Following the completion of the transaction, the director owned 388,372 shares of the company's stock, valued at $14,979,508.04. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Roth Mkm reissued a "buy" rating on shares of Applied Digital in a research note on Tuesday, February 17th. Freedom Capital raised Applied Digital to a "strong-buy" rating in a research note on Tuesday, January 6th. Arete Research assumed coverage on Applied Digital in a research note on Wednesday, January 7th. They issued a "buy" rating for the company. Zacks Research cut Applied Digital from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 8th. Finally, B. Riley Financial increased their price target on Applied Digital to $53.00 and gave the stock a "buy" rating in a research note on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $42.78.

About Applied Digital

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.

Want to see what other hedge funds are holding APLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Digital Corporation (NASDAQ:APLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.