Spear Advisors LLC Invests $7.19 Million in Applied Digital Corporation $APLD

Key Points

• Spear Advisors LLC bought a new stake in Applied Digital, purchasing 293,256 shares valued at about $7.19 million, making the stock its 7th-largest holding and about 5% of its portfolio.
• Institutional interest remains strong, with firms like Vanguard, Value Aligned Research Advisors, and others increasing or adding positions; overall, 65.67% of Applied Digital’s stock is now owned by institutional investors.
• Applied Digital has seen mixed signals: the stock is trading near its 52-week high, but the company recently missed EPS estimates despite strong revenue growth, while analysts currently rate it a Moderate Buy with an average price target of $44.33.

Spear Advisors LLC purchased a new position in Applied Digital Corporation (NASDAQ:APLD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 293,256 shares of the company's stock, valued at approximately $7,191,000. Applied Digital comprises about 5.0% of Spear Advisors LLC's investment portfolio, making the stock its 7th biggest holding. Spear Advisors LLC owned 0.10% of Applied Digital as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of APLD. Vanguard Group Inc. increased its holdings in Applied Digital by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 24,168,082 shares of the company's stock worth $592,601,000 after buying an additional 6,445,908 shares in the last quarter. Value Aligned Research Advisors LLC bought a new position in Applied Digital during the 4th quarter valued at about $138,380,000. Situational Awareness LP lifted its stake in Applied Digital by 87.0% during the 4th quarter. Situational Awareness LP now owns 11,339,060 shares of the company's stock valued at $278,034,000 after acquiring an additional 5,274,905 shares during the period. BNP Paribas Financial Markets lifted its stake in Applied Digital by 24,356.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company's stock valued at $52,561,000 after acquiring an additional 5,198,223 shares during the period. Finally, Marex Group plc lifted its stake in Applied Digital by 38,484.6% during the 4th quarter. Marex Group plc now owns 3,904,759 shares of the company's stock valued at $95,745,000 after acquiring an additional 3,894,639 shares during the period. 65.67% of the stock is currently owned by institutional investors.

Insider Transactions at Applied Digital

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

Applied Digital Trading Up 2.7%

Applied Digital stock opened at $46.71 on Friday. The business has a 50-day simple moving average of $30.65 and a two-hundred day simple moving average of $30.53. The company has a market cap of $13.35 billion, a P/E ratio of -63.12 and a beta of 5.69. Applied Digital Corporation has a 52-week low of $5.51 and a 52-week high of $47.79. 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 released its quarterly earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.23). The firm had revenue of $108.55 million for the quarter, compared to the consensus estimate of $78.47 million. Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The company's revenue for the quarter was up 139.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Analysts predict that Applied Digital Corporation will post -0.61 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup restated an "outperform" rating on shares of Applied Digital in a research note on Wednesday, January 28th. Texas Capital upgraded shares of Applied Digital to a "strong-buy" rating in a research note on Tuesday, January 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Applied Digital in a research note on Friday, April 24th. Roth Mkm restated a "buy" rating and set a $65.00 target price on shares of Applied Digital in a research note on Thursday, April 23rd. Finally, Northland Securities set a $56.00 target price on shares of Applied Digital in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $44.33.

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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