Rhumbline Advisers Boosts Stake in Applied Digital Corporation $APLD

Key Points

• Rhumbline Advisers increased its stake in Applied Digital by 14.9% in Q3 to 310,265 shares (about $7.12M), with institutional investors now owning roughly 65.7% of the company.
• Analysts are broadly bullish on APLD — the consensus rating is "Buy" with a $37 average price target, and several firms have raised targets (one as high as $56) or issued Buy/Strong Buy ratings.
• Sentiment is mixed due to significant selling: CEO Wes Cummins sold 165,000 shares (~$6.01M) and insiders sold ~244,593 shares (~$9.0M) in the past 90 days, and NVIDIA's disclosed exit of its APLD position has amplified recent downward pressure.

Rhumbline Advisers increased its holdings in shares of Applied Digital Corporation (NASDAQ:APLD - Free Report) by 14.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 310,265 shares of the company's stock after acquiring an additional 40,230 shares during the period. Rhumbline Advisers owned approximately 0.11% of Applied Digital worth $7,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. boosted its position in shares of Applied Digital by 663.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 105,782 shares of the company's stock worth $2,427,000 after purchasing an additional 91,932 shares in the last quarter. Wesbanco Bank Inc. purchased a new stake in Applied Digital during the third quarter worth about $574,000. Wealthfront Advisers LLC boosted its holdings in Applied Digital by 215.6% during the third quarter. Wealthfront Advisers LLC now owns 38,678 shares of the company's stock worth $887,000 after buying an additional 26,422 shares in the last quarter. Mandatum Life Insurance Co Ltd acquired a new position in Applied Digital during the third quarter worth about $924,000. Finally, ProShare Advisors LLC increased its holdings in Applied Digital by 1.0% in the third quarter. ProShare Advisors LLC now owns 36,652 shares of the company's stock valued at $841,000 after buying an additional 376 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on APLD shares. Northland Securities set a $56.00 price target on Applied Digital in a research note on Wednesday, January 28th. Texas Capital raised Applied Digital to a "strong-buy" rating in a research note on Tuesday, January 20th. B. Riley Financial boosted their target price on Applied Digital to $53.00 and gave the stock a "buy" rating in a research report on Friday, January 9th. Needham & Company LLC reissued a "buy" rating and issued a $41.00 target price on shares of Applied Digital in a report on Thursday, January 8th. Finally, Roth Mkm restated a "buy" rating on shares of Applied Digital in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $37.00.

Applied Digital Price Performance

Shares of NASDAQ:APLD opened at $29.04 on Friday. The business's fifty day moving average price is $32.01 and its two-hundred day moving average price is $27.02. The stock has a market cap of $8.12 billion, a PE ratio of -53.78 and a beta of 7.25. The company has a debt-to-equity ratio of 1.79, a quick ratio of 4.82 and a current ratio of 4.82. Applied Digital Corporation has a one year low of $3.31 and a one year high of $42.27.

Insider Buying and Selling

In related news, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $38.54, for a total transaction of $385,400.00. Following the sale, the director owned 200,859 shares of the company's stock, valued at $7,741,105.86. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Wes Cummins sold 165,000 shares of the company's stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $36.42, for a total transaction of $6,009,300.00. Following the completion of the transaction, the chief executive officer owned 4,176,329 shares in the company, valued at approximately $152,101,902.18. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 244,593 shares of company stock worth $9,003,278 in the last ninety days. 9.50% of the stock is currently owned by insiders.

Key Applied Digital News

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

• Positive Sentiment: Broader AI spending trends remain a potential tailwind for Applied Digital’s neocloud/data‑center business — analysts expect large increases in AI infrastructure budgets in 2026 that could support long‑term demand for specialized cloud capacity. AI Spending Is Poised to Hit $700 Billion in 2026
• Neutral Sentiment: Short‑interest reports show anomalous/zero values and a 0.0 days-to-cover reading (likely a data/reporting glitch), so there’s no clear evidence of a rising coordinated short position driving the move. Monitor later filings for a reliable signal.
• Neutral Sentiment: Commentary about volatility and “volatile stocks” highlights that APLD’s high beta makes it prone to sharp swings — this is a reminder that both downside and upside moves can be amplified regardless of fundamentals. 3 Volatile Stocks That Fall Short
• Negative Sentiment: NVIDIA sold its Applied Digital position in its Q4 13F filing and publicly exited an ARM stake — the sale of APLD was highlighted by multiple outlets and is being read as reduced institutional confidence relative to NVIDIA’s continued holdings in other neocloud peers. That 13F disclosure triggered selling pressure and negative sentiment around APLD. NVIDIA’s 13F Bombshell: A New AI Power Trio Emerges
• Negative Sentiment: Market articles reporting that APLD dropped after NVIDIA’s disposal amplified the move; news pieces cited a multi‑day losing streak and direct links between NVIDIA’s divestiture and APLD’s decline. Applied Digital (APLD) Loses 4.9% as Nvidia Disposes of Shares MSN: Applied Digital loses 4.9%

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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