Gilder Gagnon Howe & Co. LLC Has $385,000 Stake in Applied Digital Co. (NASDAQ:APLD)

Gilder Gagnon Howe & Co. LLC lessened its stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 77.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,407 shares of the company's stock after selling 169,766 shares during the quarter. Gilder Gagnon Howe & Co. LLC's holdings in Applied Digital were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Applied Digital by 39.1% during the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock worth $97,487,000 after buying an additional 3,587,619 shares during the last quarter. Van ECK Associates Corp increased its stake in Applied Digital by 113.8% during the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock worth $33,649,000 after purchasing an additional 2,344,572 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Applied Digital during the fourth quarter worth $12,843,000. Geode Capital Management LLC boosted its position 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 buying an additional 1,665,335 shares during the period. Finally, Hood River Capital Management LLC grew its stake in shares of Applied Digital by 10.7% during the 4th quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company's stock worth $115,726,000 after acquiring an additional 1,464,854 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company's stock.

Applied Digital Stock Performance

Shares of NASDAQ APLD traded up $0.63 during trading hours on Thursday, reaching $5.17. 29,976,726 shares of the stock were exchanged, compared to its average volume of 28,845,816. The stock's fifty day simple moving average is $6.00 and its 200 day simple moving average is $7.61. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.99 and a beta of 5.18. Applied Digital Co. has a 52 week low of $2.92 and a 52 week high of $12.48. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $52.92 million during the quarter, compared to analyst estimates of $62.91 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. During the same quarter last year, the company posted ($0.24) earnings per share. Sell-side analysts predict that Applied Digital Co. will post -0.96 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on APLD shares. Cantor Fitzgerald decreased their price objective on Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Compass Point started coverage on Applied Digital in a report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price objective for the company. Northland Securities boosted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of Applied Digital in a research report on Wednesday, April 23rd. Finally, HC Wainwright cut their target price on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $10.67.

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.