The Manufacturers Life Insurance Company Has $355,000 Holdings in Applied Digital Co. (NASDAQ:APLD)

The Manufacturers Life Insurance Company boosted its position in Applied Digital Co. (NASDAQ:APLD) by 14.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,064 shares of the company’s stock after buying an additional 5,423 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Applied Digital were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Applied Digital by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,018 shares of the company’s stock valued at $103,000 after buying an additional 3,182 shares during the last quarter. ICA Group Wealth Management LLC boosted its holdings in Applied Digital by 56.8% in the 2nd quarter. ICA Group Wealth Management LLC now owns 18,750 shares of the company’s stock valued at $112,000 after purchasing an additional 6,795 shares during the period. Headlands Technologies LLC boosted its holdings in Applied Digital by 381.8% in the 2nd quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock valued at $52,000 after purchasing an additional 6,933 shares during the period. Victory Capital Management Inc. boosted its holdings in Applied Digital by 72.5% in the 3rd quarter. Victory Capital Management Inc. now owns 19,535 shares of the company’s stock valued at $161,000 after purchasing an additional 8,212 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. bought a new stake in Applied Digital in the 3rd quarter valued at $83,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Digital

In related news, Director Douglas S. Miller sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $8.01, for a total value of $80,100.00. Following the transaction, the director now directly owns 208,506 shares in the company, valued at approximately $1,670,133.06. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard N. Nottenburg sold 80,000 shares of the company’s 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 transaction, the director now owns 433,686 shares in the company, valued at $3,196,265.82. This trade represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 359,369 shares of company stock worth $3,115,161 over the last ninety days. Insiders own 11.81% of the company’s stock.

Applied Digital Stock Performance

Shares of APLD stock opened at $8.90 on Monday. The company’s fifty day simple moving average is $8.31 and its 200-day simple moving average is $6.37. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1.88 billion, a PE ratio of -7.61 and a beta of 4.67. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $11.25.

Applied Digital (NASDAQ:APLD) last issued its earnings results 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 business had revenue of $60.70 million for the quarter, compared to the consensus estimate of $54.85 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 67.2% on a year-over-year basis. Equities research analysts expect that Applied Digital Co. will post -0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

APLD has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Applied Digital in a report on Friday, November 1st. Lake Street Capital lifted their price target on shares of Applied Digital from $7.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Craig Hallum lifted their price target on shares of Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. B. Riley lifted their price objective on shares of Applied Digital from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Roth Mkm reissued a “buy” rating and set a $10.00 price objective on shares of Applied Digital in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $10.50.

Applied Digital Company 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.