Partners Capital Investment Group LLP Makes New Investment in Applied Digital Corporation $APLD

Partners Capital Investment Group LLP bought a new stake in Applied Digital Corporation (NASDAQ:APLD) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,543,210 shares of the company’s stock, valued at approximately $8,673,000. Partners Capital Investment Group LLP owned approximately 0.69% of Applied Digital as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Hood River Capital Management LLC raised its position in Applied Digital by 10.7% during the fourth quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company’s stock valued at $115,726,000 after buying an additional 1,464,854 shares during the period. Vanguard Group Inc. increased its holdings in shares of Applied Digital by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 13,491,013 shares of the company’s stock valued at $75,819,000 after purchasing an additional 730,978 shares during the period. Think Investments LP lifted its position in shares of Applied Digital by 27.3% in the fourth quarter. Think Investments LP now owns 2,060,136 shares of the company’s stock worth $15,739,000 after purchasing an additional 441,291 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Applied Digital by 2.7% during the fourth quarter. Voya Investment Management LLC now owns 1,911,526 shares of the company’s stock worth $14,604,000 after purchasing an additional 50,228 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Applied Digital by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,869,386 shares of the company’s stock worth $10,506,000 after purchasing an additional 70,955 shares during the period. Institutional investors and hedge funds own 65.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APLD. Citizens Jmp upgraded shares of Applied Digital to a “strong-buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, May 22nd. B. Riley upped their price target on shares of Applied Digital from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Roth Capital reiterated a “buy” rating on shares of Applied Digital in a report on Monday, June 2nd. Craig Hallum lifted their price objective on Applied Digital from $12.00 to $23.00 and gave the company a “buy” rating in a research report on Monday. Finally, Compass Point upgraded Applied Digital from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $15.18.

Applied Digital Stock Up 2.5%

APLD opened at $15.72 on Thursday. The firm has a market cap of $4.11 billion, a P/E ratio of -14.42 and a beta of 6.17. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.77 and a current ratio of 0.77. The business has a 50 day moving average price of $11.65 and a 200 day moving average price of $8.60. Applied Digital Corporation has a twelve month low of $3.01 and a twelve month high of $16.92.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). The business had revenue of $38.01 million during the quarter, compared to analysts’ expectations of $42.86 million. Applied Digital had a negative net margin of 107.22% and a negative return on equity of 50.03%. Applied Digital’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.14) earnings per share. Research analysts forecast that Applied Digital Corporation will post -0.96 EPS for the current year.

Insider Activity

In other news, Director Richard N. Nottenburg sold 11,250 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $14.22, for a total value of $159,975.00. Following the sale, the director directly owned 317,987 shares of the company’s stock, valued at approximately $4,521,775.14. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.81% of the company’s stock.

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.