Jones Financial Companies Lllp acquired a new position in Applied Digital Co. (NASDAQ:APLD – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,094 shares of the company’s stock, valued at approximately $39,000.
Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Applied Digital by 36.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock worth $7,419,000 after purchasing an additional 240,554 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Applied Digital in the 3rd quarter worth about $545,000. Rhumbline Advisers raised its holdings in shares of Applied Digital by 68.7% in the 4th quarter. Rhumbline Advisers now owns 258,892 shares of the company’s stock worth $1,978,000 after purchasing an additional 105,428 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Applied Digital by 37.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock worth $7,656,000 after purchasing an additional 273,666 shares during the period. Finally, Barclays PLC raised its holdings in shares of Applied Digital by 736.8% in the 3rd quarter. Barclays PLC now owns 486,577 shares of the company’s stock worth $4,014,000 after purchasing an additional 428,428 shares during the period. 65.67% of the stock is currently owned by hedge funds and other institutional investors.
Applied Digital Price Performance
Shares of NASDAQ APLD opened at $7.01 on Wednesday. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $12.48. The business has a 50 day moving average price of $8.01 and a two-hundred day moving average price of $7.90. 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 firm has a market cap of $1.56 billion, a PE ratio of -4.05 and a beta of 4.69.
Insiders Place Their Bets
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $177,000.00. Following the transaction, the director now owns 342,923 shares of the company’s stock, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.81% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on APLD shares. Compass Point started coverage on Applied Digital in a research note on Tuesday, January 28th. They issued a “buy” rating and a $10.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research note on Monday, February 24th. Cantor Fitzgerald lowered their target price on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Northland Securities increased their target price on Applied Digital from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Finally, HC Wainwright increased their target price on Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Digital has a consensus rating of “Buy” and an average price target of $12.11.
View Our Latest Stock Analysis on Applied Digital
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.
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