Applied Digital Co. (NASDAQ:APLD) Stock Position Boosted by Blair William & Co. IL

Blair William & Co. IL boosted its position in Applied Digital Co. (NASDAQ:APLD - Free Report) by 444.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,260 shares of the company's stock after purchasing an additional 67,160 shares during the period. Blair William & Co. IL's holdings in Applied Digital were worth $628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of APLD. Vanguard Group Inc. grew its holdings in shares of Applied Digital by 39.1% in the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock worth $97,487,000 after acquiring an additional 3,587,619 shares during the period. Van ECK Associates Corp raised its stake in shares of 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 buying an additional 2,344,572 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Applied Digital in the 4th quarter worth about $12,843,000. Geode Capital Management LLC grew its stake in Applied Digital by 48.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,061,160 shares of the company's stock valued at $25,258,000 after acquiring an additional 1,002,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Applied Digital by 100.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,798,431 shares of the company's stock valued at $13,740,000 after acquiring an additional 899,138 shares in the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

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Applied Digital Stock Down 0.8 %

Shares of NASDAQ:APLD traded down $0.04 during midday trading on Monday, reaching $4.88. The company had a trading volume of 9,812,621 shares, compared to its average volume of 26,034,994. Applied Digital Co. has a one year low of $2.36 and a one year high of $12.48. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $1.09 billion, a P/E ratio of -2.82 and a beta of 5.18. The stock's fifty day moving average price is $7.40 and its 200-day moving average price is $8.00.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.08. The firm had revenue of $63.87 million for the quarter, compared to analysts' expectations of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The firm's revenue for the quarter was up 51.3% on a year-over-year basis. During the same period last year, the business posted ($0.05) earnings per share. Equities research analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APLD has been the topic of several research reports. Compass Point began coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price target on the stock. Northland Securities boosted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Cantor Fitzgerald decreased their price target on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Needham & Company LLC restated a "buy" rating and set a $11.00 price objective on shares of Applied Digital in a report on Monday, February 24th. Finally, HC Wainwright lifted their price objective on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $12.11.

Insider Buying and Selling

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $177,000.00. Following the sale, the director now owns 342,923 shares in the company, valued at approximately $3,034,868.55. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.81% of the company's stock.

Applied Digital Company 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.