Tactive Advisors LLC Has $3.60 Million Holdings in Applied Digital Corporation $APLD

Key Points

• Tactive Advisors LLC reduced its Applied Digital stake by 13.8% in Q1, selling 24,325 shares and leaving it with 151,517 shares valued at about $3.6 million.
• Applied Digital reported a mixed quarterly result: revenue jumped 139.3% year over year to $108.55 million, but EPS came in at -$0.36, worse than analysts expected.
• Despite losses and recent insider selling, analysts remain broadly optimistic, with a Moderate Buy consensus and an average price target of $70.56 for APLD.

Tactive Advisors LLC cut its stake in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 13.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,517 shares of the company's stock after selling 24,325 shares during the period. Applied Digital makes up approximately 1.0% of Tactive Advisors LLC's holdings, making the stock its 25th biggest position. Tactive Advisors LLC owned 0.05% of Applied Digital worth $3,597,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new position in shares of Applied Digital during the fourth quarter valued at about $25,000. Albion Financial Group UT acquired a new stake in Applied Digital during the fourth quarter worth about $25,000. Activest Wealth Management acquired a new stake in Applied Digital during the fourth quarter worth about $25,000. Ameriflex Group Inc. bought a new position in Applied Digital during the fourth quarter valued at about $25,000. Finally, McMillan Office Inc. bought a new position in Applied Digital during the fourth quarter valued at about $25,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Stock Performance

NASDAQ:APLD opened at $46.59 on Monday. Applied Digital Corporation has a 12-month low of $9.02 and a 12-month high of $50.72. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $13.31 billion, a PE ratio of -62.96 and a beta of 5.69. The firm has a 50-day moving average price of $40.02 and a 200 day moving average price of $33.50.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 8th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates 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%.The firm's revenue for the quarter was up 139.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) EPS. Research analysts anticipate that Applied Digital Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 value of $349,800.00. Following the sale, the director owned 184,859 shares of the company's stock, valued at $6,466,367.82. The trade was a 5.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Nottenburg sold 12,500 shares of the company'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 sale, the director owned 208,378 shares in the company, valued at $7,207,795.02. This trade represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 35,000 shares of company stock valued at $1,182,175. 9.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on APLD shares. Compass Point reaffirmed a "buy" rating and issued a $70.00 price target on shares of Applied Digital in a report on Friday, May 22nd. Roth Mkm reissued a "buy" rating and set a $65.00 price objective on shares of Applied Digital in a report on Thursday, April 23rd. Northland Securities set a $82.00 target price on Applied Digital and gave the company an "outperform" rating in a research note on Wednesday. Needham & Company LLC upped their target price on Applied Digital from $66.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Finally, Craig Hallum raised their target price on Applied Digital from $75.00 to $79.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Applied Digital has an average rating of "Moderate Buy" and a consensus price target of $70.56.

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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