Legal & General Group Plc Boosts Stock Position in Applied Digital Corporation $APLD

Legal & General Group Plc boosted its holdings in Applied Digital Corporation (NASDAQ:APLD) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 240,967 shares of the company’s stock after buying an additional 23,762 shares during the quarter. Legal & General Group Plc owned approximately 0.09% of Applied Digital worth $5,909,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. grew its holdings in shares of Applied Digital by 8.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,800 shares of the company’s stock worth $93,000 after purchasing an additional 300 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Applied Digital by 1.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 21,332 shares of the company’s stock worth $523,000 after purchasing an additional 318 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of Applied Digital by 3.6% during the fourth quarter. Brookstone Capital Management now owns 9,275 shares of the company’s stock worth $227,000 after purchasing an additional 321 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Applied Digital by 1.0% during the third quarter. ProShare Advisors LLC now owns 36,652 shares of the company’s stock worth $841,000 after purchasing an additional 376 shares during the last quarter. Finally, Independent Advisor Alliance grew its holdings in shares of Applied Digital by 4.6% during the fourth quarter. Independent Advisor Alliance now owns 9,215 shares of the company’s stock worth $226,000 after purchasing an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Insider Transactions at Applied Digital

In related news, Director Richard N. Nottenburg sold 12,500 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the sale, the director owned 184,859 shares of the company’s stock, valued at approximately $6,466,367.82. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 35,000 shares of company stock valued at $1,182,175. 9.50% of the stock is owned by insiders.

Applied Digital Stock Performance

NASDAQ APLD opened at $39.62 on Monday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65. Applied Digital Corporation has a 52-week low of $9.02 and a 52-week high of $50.72. The business’s 50-day moving average price is $36.19 and its 200 day moving average price is $32.12. The firm has a market cap of $11.32 billion, a P/E ratio of -53.54 and a beta of 5.69.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Wednesday, April 8th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.23). The firm had revenue of $108.55 million during the quarter, compared to analyst estimates of $78.47 million. Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. Applied Digital’s revenue for the quarter was up 139.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) EPS. On average, equities research analysts expect that Applied Digital Corporation will post -0.68 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on APLD shares. Citigroup reaffirmed an “outperform” rating on shares of Applied Digital in a report on Thursday, May 21st. Compass Point reaffirmed a “buy” rating and set a $70.00 price objective on shares of Applied Digital in a report on Friday, May 22nd. Wall Street Zen lowered Applied Digital from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Roth Mkm reissued a “buy” rating and set a $65.00 price target on shares of Applied Digital in a report on Thursday, April 23rd. Finally, Needham & Company LLC raised their price target on Applied Digital from $51.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Applied Digital currently has an average rating of “Buy” and a consensus price target of $59.11.

Applied Digital Company 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.