M&T Bank Corp Acquires Shares of 91,017 Applied Digital Corporation $APLD

Key Points

• M&T Bank Corp acquired a new stake of 91,017 shares in Applied Digital (APLD) during the fourth quarter, valued at about $2.23 million, adding to institutional ownership which now stands at 65.67%.
• Analyst sentiment is generally positive with a MarketBeat consensus of Moderate Buy and an average price target of $44.33, and several firms raising targets (e.g., Needham $48, Northland $56) amid a reported ~$7.5 billion hyperscaler opportunity.
• Company fundamentals are mixed: quarterly revenue jumped 139% year-over-year but the firm missed EPS estimates and has negative margins and a negative P/E, while recent insider sales and concerns about AI-related spending could pressure near-term performance.

M&T Bank Corp acquired a new stake in Applied Digital Corporation (NASDAQ:APLD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 91,017 shares of the company's stock, valued at approximately $2,232,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APLD. AQR Capital Management LLC grew its holdings in Applied Digital by 84.8% in the 1st quarter. AQR Capital Management LLC now owns 18,945 shares of the company's stock valued at $106,000 after buying an additional 8,692 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Applied Digital by 239.1% during the 1st quarter. NewEdge Advisors LLC now owns 33,267 shares of the company's stock valued at $187,000 after acquiring an additional 23,457 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Applied Digital by 113.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company's stock valued at $37,000 after acquiring an additional 3,542 shares during the period. Strs Ohio bought a new stake in shares of Applied Digital during the 1st quarter valued at $71,000. Finally, Cetera Investment Advisers lifted its position in shares of Applied Digital by 61.0% during the 2nd quarter. Cetera Investment Advisers now owns 61,656 shares of the company's stock valued at $621,000 after acquiring an additional 23,360 shares during the period. 65.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APLD has been the subject of a number of recent analyst reports. Needham & Company LLC upped their target price on Applied Digital to $48.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Northland Securities set a $56.00 target price on Applied Digital in a research report on Wednesday, January 28th. Citigroup reiterated an "outperform" rating on shares of Applied Digital in a research report on Wednesday, January 28th. Lake Street Capital reiterated a "buy" rating and set a $45.00 target price on shares of Applied Digital in a research report on Tuesday, December 30th. Finally, Wall Street Zen downgraded Applied Digital from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Applied Digital currently has a consensus rating of "Moderate Buy" and an average target price of $44.33.

Applied Digital Price Performance

Shares of APLD stock opened at $32.11 on Wednesday. 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 Corporation has a twelve month low of $4.20 and a twelve month high of $42.27. The company has a market cap of $9.18 billion, a P/E ratio of -43.39 and a beta of 7.25. The business has a fifty day simple moving average of $28.21 and a 200 day simple moving average of $30.03.

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

Insider Transactions at Applied Digital

In other news, Director Douglas S. Miller sold 10,000 shares of the 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chuck Hastings sold 45,987 shares of the 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 directly owned 388,372 shares of the company's stock, valued at $14,979,508.04. This trade represents a 10.59% decrease in their position. The SEC filing for this sale provides additional information. 9.50% of the stock is currently owned by corporate insiders.

Key Applied Digital News

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Large hyperscaler deal improves revenue visibility — analysts and outlets flag a roughly $7.5 billion commercial opportunity tied to new hyperscaler commitments, which investors view as clearer, multi-year demand for Applied Digital’s AI/data-center infrastructure. A $7.5 Billion Reason to Buy Applied Digital Stock Here
• Positive Sentiment: Roth Capital reiterates Buy and lifts its price target — Roth kept a Buy rating and raised its target, citing Applied Digital as a top high-performance computing/data-center investment as recent commercial developments crystallize demand. Roth Capital Reaffirms Buy Rating for Applied Digital (APLD)
• Positive Sentiment: Continued hyperscaler interest and bullish analyst consensus — multiple articles note Applied Digital’s strong traction with investment-grade hyperscalers and maintain strong buy/price-target support, underlining upside from multi-year contracts. Applied Digital Corp. (APLD) Continues to Attract High Investment-Grade Hyperscalers
• Neutral Sentiment: Director sale disclosed — Director Douglas S. Miller sold 10,000 shares at about $34.98 (retaining a large position). Insider sales can create short-term pressure but may be routine diversification. SEC Form 4 Disclosure
• Neutral Sentiment: Sector skepticism noted — a services-sector roundup flagged some investor caution around services/data-center providers facing budget scrutiny and AI-driven disruption, a background risk that could temper enthusiasm. 3 Services Stocks We’re Skeptical Of
• Negative Sentiment: Market reaction to AI spending concerns — coverage highlights investor worry that heavy AI-related capital and operating expenditures could pressure margins and cash flow, which triggered a near-term slide in the stock. Applied Digital slides 7% after AI spending concerns

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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