Janus Henderson Group PLC Invests $375,000 in Applied Digital Co. (NASDAQ:APLD)

Janus Henderson Group PLC bought a new stake in Applied Digital Co. (NASDAQ:APLD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 45,500 shares of the company’s stock, valued at approximately $375,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Headlands Technologies LLC lifted its stake in Applied Digital by 381.8% during the 2nd quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock valued at $52,000 after acquiring an additional 6,933 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Applied Digital during the third quarter valued at $59,000. Beacon Harbor Wealth Advisors Inc. acquired a new position in Applied Digital during the third quarter valued at $83,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Applied Digital in the third quarter valued at $88,000. Finally, Chesapeake Capital Corp IL acquired a new stake in Applied Digital during the 3rd quarter worth about $94,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Applied Digital Trading Down 1.4 %

Shares of APLD stock opened at $8.90 on Monday. Applied Digital Co. has a 1-year low of $2.36 and a 1-year high of $11.25. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -7.61 and a beta of 4.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.22 and a quick ratio of 0.22. The stock has a 50 day simple moving average of $8.31 and a 200-day simple moving average of $6.37.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings data on Wednesday, October 9th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.13. Applied Digital had a negative net margin of 74.95% and a negative return on equity of 88.87%. The company had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $54.85 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 67.2% on a year-over-year basis. On average, equities research analysts expect that Applied Digital Co. will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APLD. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Applied Digital in a report on Friday, November 1st. HC Wainwright upped their price objective on Applied Digital from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Roth Mkm reaffirmed a “buy” rating and set a $10.00 price objective on shares of Applied Digital in a research note on Thursday, October 10th. B. Riley boosted their target price on shares of Applied Digital from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Lake Street Capital raised their price target on shares of Applied Digital from $7.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $10.50.

Insider Buying and Selling at Applied Digital

In related news, CEO Wes Cummins sold 200,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $9.20, for a total transaction of $1,840,000.00. Following the transaction, the chief executive officer now directly owns 3,875,955 shares in the company, valued at approximately $35,658,786. The trade was a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Nottenburg sold 80,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $7.37, for a total transaction of $589,600.00. Following the completion of the sale, the director now owns 433,686 shares of the company’s stock, valued at approximately $3,196,265.82. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 359,369 shares of company stock valued at $3,115,161 over the last quarter. 11.81% of the stock is currently owned by insiders.

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.