Sei Investments Co. Has $4.01 Million Position in Applied Digital Co. (NASDAQ:APLD)

Sei Investments Co. boosted its holdings in Applied Digital Co. (NASDAQ:APLD - Free Report) by 20.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 524,718 shares of the company's stock after acquiring an additional 88,090 shares during the quarter. Sei Investments Co. owned about 0.24% of Applied Digital worth $4,009,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of APLD. Intech Investment Management LLC acquired a new position in shares of Applied Digital in the 3rd quarter worth approximately $115,000. Charles Schwab Investment Management Inc. grew its position in Applied Digital by 36.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company's stock worth $7,419,000 after buying an additional 240,554 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Applied Digital by 14.4% in the third quarter. The Manufacturers Life Insurance Company now owns 43,064 shares of the company's stock valued at $355,000 after buying an additional 5,423 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Applied Digital during the 3rd quarter valued at $283,000. Finally, FMR LLC boosted its stake in shares of Applied Digital by 99.1% during the 3rd quarter. FMR LLC now owns 13,071 shares of the company's stock worth $108,000 after acquiring an additional 6,507 shares in the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Applied Digital

In related news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $177,000.00. Following the sale, the director now directly owns 342,923 shares of the company's stock, valued at $3,034,868.55. This trade represents 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 hyperlink. Insiders own 11.81% of the company's stock.

Remove Ads

Analyst Ratings Changes

APLD has been the topic of a number of recent analyst reports. Cantor Fitzgerald cut their target price on Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. HC Wainwright upped their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Northland Securities lifted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Needham & Company LLC restated a "buy" rating and issued a $11.00 price target on shares of Applied Digital in a research report on Monday, February 24th. Finally, Compass Point initiated coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They issued 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 data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $12.11.

Applied Digital Stock Performance

Shares of NASDAQ APLD traded down $0.74 during trading hours on Friday, hitting $4.92. 33,257,816 shares of the company's stock were exchanged, compared to its average volume of 26,372,408. The company's 50-day moving average price is $7.40 and its 200-day moving average price is $8.00. Applied Digital Co. has a 1-year low of $2.36 and a 1-year high of $12.48. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -2.84 and a beta of 5.18. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.08. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The company had revenue of $63.87 million during the quarter, compared to analysts' expectations of $62.41 million. During the same period in the prior year, the business earned ($0.05) earnings per share. Applied Digital's revenue for the quarter was up 51.3% compared to the same quarter last year. On average, sell-side analysts expect 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.