Charles Schwab Investment Management Inc. Acquires 899,138 Shares of Applied Digital Co. (NASDAQ:APLD)

Charles Schwab Investment Management Inc. increased its stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 100.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,798,431 shares of the company's stock after acquiring an additional 899,138 shares during the period. Charles Schwab Investment Management Inc. owned about 0.81% of Applied Digital worth $13,740,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of APLD. SBI Securities Co. Ltd. bought a new position in shares of Applied Digital in the 4th quarter valued at about $206,000. Jones Financial Companies Lllp acquired a new stake in shares of Applied Digital in the fourth quarter valued at approximately $39,000. US Bancorp DE bought a new position in shares of Applied Digital during the 4th quarter worth approximately $37,000. Amalgamated Bank increased its holdings in shares of Applied Digital by 113.3% during the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company's stock worth $50,000 after acquiring an additional 3,473 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Applied Digital by 50.5% during the 4th quarter. Bank of New York Mellon Corp now owns 480,526 shares of the company's stock valued at $3,671,000 after purchasing an additional 161,250 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Richard N. Nottenburg sold 20,000 shares of the business's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the transaction, the director now directly owns 342,923 shares of the company's stock, valued at $3,034,868.55. The trade was a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.81% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

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

Applied Digital Trading Up 13.0 %

APLD traded up $0.92 during trading on Monday, reaching $7.99. 22,705,129 shares of the company's stock were exchanged, compared to its average volume of 26,522,449. The firm has a fifty day moving average price of $7.94 and a two-hundred day moving average price of $8.00. The stock has a market capitalization of $1.78 billion, a PE ratio of -4.62 and a beta of 4.69. Applied Digital Co. has a one year low of $2.36 and a one year high of $12.48. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its earnings results on Tuesday, January 14th. The company reported ($0.06) 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 the consensus estimate of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business's quarterly revenue was up 51.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) EPS. As a group, equities research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

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.