Swiss National Bank Boosts Stock Holdings in Applied Digital Co. (NASDAQ:APLD)

Swiss National Bank grew its holdings in Applied Digital Co. (NASDAQ:APLD) by 29.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 338,800 shares of the company’s stock after purchasing an additional 76,300 shares during the quarter. Swiss National Bank owned approximately 0.15% of Applied Digital worth $2,588,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB raised its stake in Applied Digital by 100.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company’s stock worth $31,000 after buying an additional 2,000 shares in the last quarter. R Squared Ltd purchased a new position in shares of Applied Digital in the 4th quarter valued at $36,000. US Bancorp DE bought a new position in shares of Applied Digital in the 4th quarter worth $37,000. Jones Financial Companies Lllp purchased a new stake in shares of Applied Digital during the 4th quarter worth $39,000. Finally, Spire Wealth Management bought a new stake in Applied Digital during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Applied Digital Price Performance

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

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.08. The firm had revenue of $63.87 million during the quarter, compared to analysts’ expectations of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The company’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same period last year, the business posted ($0.05) earnings per share. As a group, equities research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.

Insider Buying and Selling at Applied Digital

In other news, Director Richard N. Nottenburg sold 20,000 shares of the company’s stock in a transaction dated 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 owns 342,923 shares in the company, valued at $3,034,868.55. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.81% of the company’s stock.

Analysts Set New Price Targets

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

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.