Vontobel Holding Ltd. Acquires 1,500 Shares of Applied Digital Co. (NASDAQ:APLD)

Vontobel Holding Ltd. grew its holdings in Applied Digital Co. (NASDAQ:APLD) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,735 shares of the company’s stock after purchasing an additional 1,500 shares during the period. Vontobel Holding Ltd.’s holdings in Applied Digital were worth $128,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Van ECK Associates Corp increased its holdings in shares of Applied Digital by 113.8% in 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 increased its holdings in shares of Applied Digital by 48.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,061,160 shares of the company’s stock worth $25,258,000 after purchasing an additional 1,002,862 shares in the last quarter. State Street Corp grew its holdings in shares of Applied Digital by 14.0% in the third quarter. State Street Corp now owns 2,337,267 shares of the company’s stock worth $19,282,000 after acquiring an additional 286,852 shares during the period. Royce & Associates LP grew its holdings in shares of Applied Digital by 1.4% in the third quarter. Royce & Associates LP now owns 1,132,140 shares of the company’s stock worth $9,340,000 after acquiring an additional 15,763 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings 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 worth $7,656,000 after acquiring an additional 273,666 shares during the period. Institutional investors own 65.67% of the company’s stock.

Applied Digital Price Performance

NASDAQ APLD opened at $10.65 on Friday. The company has a market capitalization of $2.37 billion, a PE ratio of -6.16 and a beta of 4.77. 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 business’s fifty day moving average is $8.45 and its 200 day moving average is $7.43. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $12.48.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) EPS 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 business had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The business’s revenue was up 51.3% on a year-over-year basis. Sell-side analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Northland Securities lifted 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Applied Digital in a report on Wednesday, January 15th. Compass Point assumed coverage on Applied Digital in a report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price objective for the company. HC Wainwright lifted their price objective on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Cantor Fitzgerald cut their price objective on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $12.11.

Insider Activity

In other news, CEO Wes Cummins sold 200,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $9.20, for a total value of $1,840,000.00. Following the transaction, the chief executive officer now directly owns 3,875,955 shares in the company, valued at $35,658,786. The trade was a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Nottenburg sold 50,000 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 value of $460,000.00. Following the completion of the transaction, the director now owns 334,317 shares in the company, valued at $3,075,716.40. The trade was a 13.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,000 shares of company stock worth $2,477,000 over the last ninety days. Corporate insiders own 11.81% of the company’s stock.

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.