Gilder Gagnon Howe & Co. LLC Sells 169,766 Shares of Applied Digital Co. (NASDAQ:APLD)

Gilder Gagnon Howe & Co. LLC cut its position in Applied Digital Co. (NASDAQ:APLD - Free Report) by 77.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in APLD. Barclays PLC grew its stake in shares of Applied Digital by 736.8% in the third quarter. Barclays PLC now owns 486,577 shares of the company's stock valued at $4,014,000 after buying an additional 428,428 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Applied Digital during the 3rd quarter worth approximately $2,030,000. Tidal Investments LLC acquired a new stake in shares of Applied Digital during the 3rd quarter worth approximately $95,000. JPMorgan Chase & Co. boosted its position in shares of Applied Digital by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 56,355 shares of the company's stock worth $465,000 after acquiring an additional 8,774 shares in the last quarter. Finally, Gunderson Capital Management Inc. acquired a new stake in shares of Applied Digital during the 4th quarter worth approximately $83,000. 65.67% of the stock is owned by institutional investors.

Applied Digital Price Performance

APLD stock traded up $0.01 during mid-day trading on Monday, hitting $4.71. 29,788,599 shares of the stock were exchanged, compared to its average volume of 28,808,168. 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 business has a fifty day moving average price of $6.24 and a 200 day moving average price of $7.65. Applied Digital Co. has a 12 month low of $2.63 and a 12 month high of $12.48. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -2.72 and a beta of 5.18.

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

Wall Street Analyst Weigh In

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