5,561,235 Applied Digital Corporation $APLD Shares Sold by DBA Trading LLC

DBA Trading LLC trimmed its holdings in shares of Applied Digital Corporation (NASDAQ:APLD) by 99.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,000 shares of the company’s stock after selling 5,561,235 shares during the period. Applied Digital comprises approximately 0.6% of DBA Trading LLC’s portfolio, making the stock its 24th largest position. DBA Trading LLC’s holdings in Applied Digital were worth $366,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of APLD. GAMMA Investing LLC boosted its holdings in Applied Digital by 28.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,092 shares of the company’s stock valued at $78,000 after acquiring an additional 464 shares during the period. Krilogy Financial LLC lifted its position in Applied Digital by 4.1% in the second quarter. Krilogy Financial LLC now owns 14,243 shares of the company’s stock valued at $531,000 after purchasing an additional 561 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Applied Digital by 4.7% during the second quarter. Envestnet Asset Management Inc. now owns 13,333 shares of the company’s stock valued at $497,000 after purchasing an additional 596 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Applied Digital by 1.0% during the second quarter. Handelsbanken Fonder AB now owns 71,600 shares of the company’s stock valued at $2,671,000 after purchasing an additional 700 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Applied Digital by 6.7% in the third quarter. Valeo Financial Advisors LLC now owns 12,343 shares of the company’s stock worth $301,000 after purchasing an additional 773 shares during the last quarter. 65.67% of the stock is owned by institutional investors.

Trending Headlines about Applied Digital

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: A proposed Louisiana public-authority agreement could allow up to $4.6 billion in bonds for Applied Digital’s AI campus, with Meta’s lease potentially supporting the financing. This may help fund development, though the proposal is not described as finalized. Article: Meta’s Lease Could Back Up to $4.6 Billion in Louisiana Bonds for Applied Digital’s AI Campus
• Neutral Sentiment: CoreWeave’s third-quarter results were due after the market close on Nov. 10, making its financial performance a near-term catalyst for Applied Digital. Article: CoreWeave Has “a Sentiment Problem.” Its Landlord Applied Digital Has $11 Billion Riding on It
• Negative Sentiment: Applied Digital has substantial exposure to CoreWeave through a 400-megawatt lease reported to be worth about $11 billion. Reports of CoreWeave’s unsecured debt yielding around 16% have raised concerns that credit stress at the tenant could put Applied Digital’s growth plans and expected lease revenue at risk. Article: If CoreWeave Implodes, It’s Taking This Neocloud With It First
• Negative Sentiment: Morgan Stanley cut its price target to $25 from $41 and kept an Equal Weight rating. The lower target, alongside coverage citing rising debt and mounting losses, reinforces concerns about the cost and execution risks of the company’s AI infrastructure expansion. Article: Applied Digital Slides 37% YTD: Time to Exit or Hold the Stock?

Analyst Ratings Changes

A number of equities research analysts have issued reports on APLD shares. Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 price target (up from $50.00) on shares of Applied Digital in a report on Thursday, October 8th. UBS Group reissued a “buy” rating on shares of Applied Digital in a research note on Thursday, October 8th. Roth Capital set a $35.00 price target on Applied Digital and gave the company a “buy” rating in a research report on Wednesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Digital in a report on Monday, October 19th. Finally, Rothschild & Co Redburn set a $22.00 price objective on Applied Digital and gave the stock a “neutral” rating in a research report on Monday, September 21st. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.42.

Applied Digital Stock Down 0.2%

Shares of APLD stock opened at $16.68 on Wednesday. The company has a debt-to-equity ratio of 3.90, a current ratio of 2.56 and a quick ratio of 2.56. Applied Digital Corporation has a one year low of $13.11 and a one year high of $50.72. The company’s 50-day moving average is $22.57 and its 200 day moving average is $30.66.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Wednesday, October 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.29. Applied Digital had a negative net margin of 51.28% and a negative return on equity of 27.21%. The company had revenue of $300.39 million during the quarter, compared to analyst estimates of $116.29 million. During the same period in the previous year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was up 367.8% on a year-over-year basis. Sell-side analysts forecast that Applied Digital Corporation will post -2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Wes Cummins bought 55,803 shares of the firm’s stock in a transaction on Friday, October 16th. The stock was acquired at an average cost of $18.04 per share, for a total transaction of $1,006,686.12. Following the purchase, the chief executive officer owned 5,874,453 shares in the company, valued at approximately $105,975,132.12. This represents a 0.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Jason Gechen Zhang purchased 300,000 shares of the stock in a transaction dated Friday, October 16th. The shares were purchased at an average cost of $18.86 per share, for a total transaction of $5,658,000.00. Following the completion of the acquisition, the president directly owned 2,839,227 shares in the company, valued at approximately $53,547,821.22. This trade represents a 11.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 9.50% of the stock is currently owned by insiders.

Applied Digital Company Profile

Applied Digital Corporation develops, builds and operates data centers designed for high-density computing. Its facilities support digital asset mining as well as high-performance computing workloads, including artificial intelligence applications, and the company provides hosting and infrastructure services to customers in these sectors. The company also offers cloud services that give customers access to computing capacity for demanding workloads. Its data center operations are focused in the United States, including facilities in North Dakota.