Sei Investments Co. Buys 88,090 Shares of Applied Digital Co. (NASDAQ:APLD)

Sei Investments Co. raised its position in shares of Applied Digital Co. (NASDAQ:APLD) by 20.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 524,718 shares of the company’s stock after acquiring an additional 88,090 shares during the quarter. Sei Investments Co. owned approximately 0.24% of Applied Digital worth $4,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APLD. Van ECK Associates Corp boosted its position in shares of Applied Digital by 113.8% during the fourth quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company’s stock valued at $33,649,000 after purchasing an additional 2,344,572 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Applied Digital during the 4th quarter valued at $12,843,000. Geode Capital Management LLC grew its position 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 buying an additional 1,002,862 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 899,138 shares during the period. Finally, Barclays PLC increased its stake 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 acquiring an additional 428,428 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Applied Digital Stock Performance

NASDAQ:APLD opened at $6.24 on Thursday. 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 $1.39 billion, a price-to-earnings ratio of -3.61 and a beta of 4.69. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $12.48. The stock’s 50 day simple moving average is $7.56 and its two-hundred day simple moving average is $8.00.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (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 during the quarter, compared to the consensus estimate of $62.41 million. During the same period last year, the company earned ($0.05) earnings per share. Applied Digital’s revenue was up 51.3% on a year-over-year basis. As a group, equities analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Richard N. Nottenburg sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.81% of the company’s stock.

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.