Swiss National Bank Buys 76,300 Shares of Applied Digital Co. (NASDAQ:APLD)

Swiss National Bank lifted its stake in Applied Digital Co. (NASDAQ:APLD - Free Report) by 29.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,800 shares of the company's stock after acquiring an additional 76,300 shares during the period. Swiss National Bank owned approximately 0.15% of Applied Digital worth $2,588,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APLD. Van ECK Associates Corp lifted its holdings in 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 purchasing an additional 2,344,572 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Applied Digital by 48.7% in the third quarter. Geode Capital Management LLC now owns 3,061,160 shares of the company's stock worth $25,258,000 after buying an additional 1,002,862 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Applied Digital by 100.0% in the fourth 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 during the period. Barclays PLC grew its stake in Applied Digital by 736.8% during the third quarter. Barclays PLC now owns 486,577 shares of the company's stock valued at $4,014,000 after acquiring an additional 428,428 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in Applied Digital during the 4th quarter worth approximately $3,056,000. 65.67% of the stock is owned by institutional investors.

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Applied Digital Stock Down 1.7 %

Shares of NASDAQ:APLD traded down $0.10 on Monday, hitting $5.62. 15,727,692 shares of the company traded hands, compared to its average volume of 26,374,287. The stock has a 50 day simple moving average of $7.69 and a 200-day simple moving average of $8.01. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. The company has a market cap of $1.25 billion, a PE ratio of -3.25 and a beta of 4.69. Applied Digital Co. has a 52 week low of $2.36 and a 52 week high of $12.48.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Richard N. Nottenburg sold 20,000 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 342,923 shares of the company's stock, valued at approximately $3,034,868.55. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.81% of the stock is currently owned by insiders.

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.