Virtu Financial LLC Invests $859,000 in Applied Digital Corporation (NASDAQ:APLD)

Virtu Financial LLC purchased a new position in shares of Applied Digital Corporation (NASDAQ:APLD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 152,801 shares of the company's stock, valued at approximately $859,000. Virtu Financial LLC owned about 0.07% of Applied Digital at the end of the most recent reporting period.

Several other large investors have also modified their holdings of APLD. Tidal Investments LLC raised its stake in shares of Applied Digital by 14,635.7% during the fourth quarter. Tidal Investments LLC now owns 1,697,850 shares of the company's stock worth $12,972,000 after purchasing an additional 1,686,328 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Applied Digital by 54.4% during the fourth quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock worth $36,117,000 after purchasing an additional 1,665,335 shares during the last quarter. Hood River Capital Management LLC raised its stake in shares of Applied Digital by 10.7% during the fourth quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company's stock worth $115,726,000 after purchasing an additional 1,464,854 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Applied Digital during the fourth quarter worth approximately $11,029,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Applied Digital during the fourth quarter worth approximately $10,696,000. Hedge funds and other institutional investors own 65.67% of the company's stock.

Applied Digital Stock Up 6.7%

Applied Digital stock opened at $14.97 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of -13.73 and a beta of 6.17. Applied Digital Corporation has a fifty-two week low of $3.01 and a fifty-two week high of $15.42. The stock's fifty day moving average is $11.38 and its two-hundred day moving average is $8.26.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $38.01 million for the quarter, compared to analyst estimates of $42.86 million. Applied Digital had a negative return on equity of 50.03% and a negative net margin of 107.22%. Applied Digital's revenue was up 41.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.14) earnings per share. Analysts predict that Applied Digital Corporation will post -0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Roth Capital restated a "buy" rating on shares of Applied Digital in a research note on Monday, June 2nd. Lake Street Capital upped their price objective on Applied Digital from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Cantor Fitzgerald dropped their price objective on Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC upped their price objective on Applied Digital from $12.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Citigroup reaffirmed an "outperform" rating on shares of Applied Digital in a report on Tuesday, June 3rd. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $14.18.

Insiders Place Their Bets

In related news, Director Richard N. Nottenburg sold 11,250 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $14.22, for a total transaction of $159,975.00. Following the sale, the director owned 317,987 shares of the company's stock, valued at $4,521,775.14. This trade represents a 3.42% 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, Director Rachel H. Lee sold 24,212 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total value of $169,484.00. Following the sale, the director directly owned 83,613 shares in the company, valued at approximately $585,291. The trade was a 22.45% decrease in their position. The disclosure for this sale can be found here. 11.81% of the stock is owned by company insiders.

Applied Digital Profile

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.