Applied Digital Co. (NASDAQ:APLD) Shares Bought by Pertento Partners LLP

Pertento Partners LLP boosted its position in Applied Digital Co. (NASDAQ:APLD - Free Report) by 49.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,528,717 shares of the company's stock after buying an additional 831,705 shares during the quarter. Applied Digital makes up approximately 1.6% of Pertento Partners LLP's portfolio, making the stock its 19th biggest position. Pertento Partners LLP owned about 1.13% of Applied Digital worth $19,319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wilmington Savings Fund Society FSB lifted its position in Applied Digital by 100.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after purchasing an additional 2,000 shares during the last quarter. R Squared Ltd purchased a new position in shares of Applied Digital in the fourth quarter worth $36,000. US Bancorp DE bought a new stake in Applied Digital during the 4th quarter valued at $37,000. Jones Financial Companies Lllp purchased a new stake in Applied Digital during the 4th quarter valued at $39,000. Finally, Spire Wealth Management bought a new stake in Applied Digital in the 4th quarter worth $43,000. 65.67% of the stock is currently owned by institutional investors.

Insider Activity

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

Remove Ads

Applied Digital Price Performance

APLD traded down $0.10 on Monday, hitting $5.62. 14,209,226 shares of the company's stock were exchanged, compared to its average volume of 26,318,904. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -3.25 and a beta of 4.69. The firm has a 50-day moving average price of $7.76 and a 200-day moving average price of $8.01. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week 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) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.08. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The firm had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. During the same period in the prior year, the firm earned ($0.05) EPS. The firm's revenue for the quarter was up 51.3% on a year-over-year basis. As a group, equities analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About Applied Digital

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.