Applied Digital Co. (NASDAQ:APLD) Shares Purchased by Swiss National Bank

Swiss National Bank boosted its position in shares of Applied Digital Co. (NASDAQ:APLD) by 29.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 338,800 shares of the company’s stock after buying an additional 76,300 shares during the period. Swiss National Bank’s holdings in Applied Digital were worth $2,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its stake 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 during the last quarter. Geode Capital Management LLC grew its stake in Applied Digital by 48.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,061,160 shares of the company’s stock valued at $25,258,000 after acquiring an additional 1,002,862 shares in the last quarter. State Street Corp raised its holdings in Applied Digital by 14.0% in the 3rd quarter. State Street Corp now owns 2,337,267 shares of the company’s stock valued at $19,282,000 after acquiring an additional 286,852 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Applied Digital by 100.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,798,431 shares of the company’s stock worth $13,740,000 after purchasing an additional 899,138 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in shares of Applied Digital by 37.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock valued at $7,656,000 after purchasing an additional 273,666 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

Applied Digital Price Performance

Applied Digital stock opened at $6.10 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.53 and a beta of 4.69. The company’s 50 day simple moving average is $7.82 and its 200-day simple moving average is $7.99. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $12.48.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $62.41 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. The firm’s revenue was up 51.3% compared to the same quarter last year. As a group, equities research analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Applied Digital in a research report on Monday, February 24th. Compass Point assumed coverage on Applied Digital in a report on Tuesday, January 28th. They set a “buy” rating and a $10.00 price target on the stock. 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 report on Wednesday, January 15th. Cantor Fitzgerald reduced their target price on shares of 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, Northland Securities increased their price target on shares of Applied Digital from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital has an average rating of “Buy” and an average price target of $12.11.

Insider Buying and Selling at Applied Digital

In other news, Director Richard N. Nottenburg sold 20,000 shares of the 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 sale, the director now directly owns 342,923 shares in the company, valued at approximately $3,034,868.55. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.81% of the stock is currently owned by corporate insiders.

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.