Van ECK Associates Corp Has $32.47 Million Stock Holdings in Applied Digital Corporation $APLD

Key Points

• Van ECK Associates Corp cut its stake in Applied Digital by 62.9% in Q3, now holding 1,415,462 shares worth $32.47 million (about 0.50% of the company) after selling 2,402,482 shares.
• Company insiders sold a total of 244,593 shares last quarter — including CEO Wes Cummins' sale of 165,000 shares for roughly $6.01 million — leaving insiders with 9.5% ownership.
• Analysts remain broadly positive with a consensus rating of "Buy" and an average target of $37, while the stock shows high volatility (52‑week range $3.31–$42.27 and beta 7.20).

Van ECK Associates Corp decreased its position in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 62.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,415,462 shares of the company's stock after selling 2,402,482 shares during the quarter. Van ECK Associates Corp owned approximately 0.50% of Applied Digital worth $32,471,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new position in shares of Applied Digital in the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Applied Digital in the second quarter valued at approximately $26,000. Dagco Inc. acquired a new stake in shares of Applied Digital in the third quarter worth $27,000. Evolution Wealth Management Inc. increased its position in Applied Digital by 101.8% during the third quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company's stock worth $37,000 after acquiring an additional 807 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in 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 purchasing an additional 3,542 shares during the last quarter. Institutional investors own 65.67% of the company's stock.

Insider Activity

In related news, Director Richard N. Nottenburg sold 12,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $425,400.00. Following the sale, the director directly owned 233,378 shares in the company, valued at $8,273,250.10. This represents a 4.89% decrease in their position. 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 business's stock in a transaction on Friday, January 16th. The stock was sold at an average price of $36.42, for a total value of $6,009,300.00. Following the completion of the transaction, the chief executive officer directly owned 4,176,329 shares in the company, valued at approximately $152,101,902.18. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 244,593 shares of company stock valued at $9,003,278. Company insiders own 9.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $41.00 price objective on shares of Applied Digital in a report on Thursday, January 8th. Texas Capital raised Applied Digital to a "strong-buy" rating in a research report on Tuesday, January 20th. B. Riley Financial boosted their price objective on Applied Digital to $53.00 and gave the company a "buy" rating in a research report on Friday, January 9th. Arete Research initiated coverage on Applied Digital in a research note on Wednesday, January 7th. They issued a "buy" rating for the company. Finally, Roth Mkm reiterated a "buy" rating on shares of Applied Digital in a research note on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Applied Digital has an average rating of "Buy" and a consensus target price of $37.00.

Applied Digital Stock Performance

Applied Digital stock opened at $28.52 on Thursday. The firm has a market capitalization of $7.97 billion, a P/E ratio of -52.81 and a beta of 7.20. The stock has a fifty day moving average price of $32.83 and a two-hundred day moving average price of $28.21. Applied Digital Corporation has a 52-week low of $3.31 and a 52-week high of $42.27. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.82 and a quick ratio of 4.82.

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.

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