Tudor Investment Corp ET AL Decreases Holdings in Applied Digital Corporation $APLD

Tudor Investment Corp ET AL trimmed its position in Applied Digital Corporation (NASDAQ:APLD) by 66.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,011 shares of the company’s stock after selling 629,997 shares during the period. Tudor Investment Corp ET AL’s holdings in Applied Digital were worth $7,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of APLD. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Applied Digital during the 3rd quarter valued at $994,000. Voya Investment Management LLC boosted its position in shares of Applied Digital by 403.4% in the 3rd quarter. Voya Investment Management LLC now owns 1,464,909 shares of the company’s stock worth $33,605,000 after purchasing an additional 1,173,929 shares in the last quarter. Federated Hermes Inc. purchased a new position in Applied Digital during the 3rd quarter worth $3,204,000. AlphaQuest LLC purchased a new position in Applied Digital during the 3rd quarter worth $1,369,000. Finally, MRA Advisory Group acquired a new position in Applied Digital during the 3rd quarter valued at about $978,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APLD has been the subject of a number of research analyst reports. B. Riley Financial increased their price target on Applied Digital to $53.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Roth Mkm restated a “buy” rating on shares of Applied Digital in a report on Tuesday, February 17th. Texas Capital raised shares of Applied Digital to a “strong-buy” rating in a research report on Tuesday, January 20th. Citigroup reiterated an “outperform” rating on shares of Applied Digital in a research note on Wednesday, January 28th. Finally, Lake Street Capital reissued a “buy” rating and set a $45.00 target price on shares of Applied Digital in a research report on Tuesday, December 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $37.00.

Insider Transactions at Applied Digital

In related news, Director Chuck Hastings sold 45,987 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $38.57, for a total value of $1,773,718.59. Following the transaction, the director owned 388,372 shares in the company, valued at approximately $14,979,508.04. This represents a 10.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Wes Cummins sold 165,000 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $36.42, for a total transaction of $6,009,300.00. Following the transaction, the chief executive officer directly owned 4,176,329 shares of the company’s stock, valued at $152,101,902.18. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 244,593 shares of company stock valued at $9,003,278. 9.50% of the stock is owned by company insiders.

Applied Digital Stock Performance

Shares of APLD opened at $27.26 on Tuesday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 4.82 and a current ratio of 4.82. The stock has a 50-day moving average of $32.14 and a two-hundred day moving average of $28.93. The stock has a market cap of $7.62 billion, a P/E ratio of -50.48 and a beta of 7.20. Applied Digital Corporation has a one year low of $3.31 and a one year high of $42.27.

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.