Applied Digital Corporation $APLD Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC decreased its position in shares of Applied Digital Corporation (NASDAQ:APLD) by 51.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,720 shares of the company’s stock after selling 18,619 shares during the quarter. Legato Capital Management LLC’s holdings in Applied Digital were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Applied Digital by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 24,168,082 shares of the company’s stock worth $592,601,000 after buying an additional 6,445,908 shares during the period. Situational Awareness LP increased its position in Applied Digital by 63.3% during the second quarter. Situational Awareness LP now owns 6,591,800 shares of the company’s stock worth $66,379,000 after buying an additional 2,556,200 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Applied Digital by 24,356.8% in the second quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock valued at $52,561,000 after purchasing an additional 5,198,223 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Applied Digital by 20.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,199,135 shares of the company’s stock valued at $73,388,000 after purchasing an additional 537,839 shares during the period. Finally, Two Sigma Investments LP acquired a new position in shares of Applied Digital in the third quarter valued at approximately $69,535,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Applied Digital Stock Up 8.5%

Applied Digital stock opened at $48.98 on Thursday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.38 and a quick ratio of 2.38. Applied Digital Corporation has a 1-year low of $6.68 and a 1-year high of $49.35. The company has a market cap of $14.00 billion, a PE ratio of -66.19 and a beta of 5.69. The stock’s 50 day moving average price is $33.54 and its 200 day moving average price is $31.18.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.23). Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The business had revenue of $108.55 million during the quarter, compared to analysts’ expectations of $78.47 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 139.3% compared to the same quarter last year. On average, sell-side analysts predict that Applied Digital Corporation will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard N. Nottenburg sold 12,500 shares of Applied Digital stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $34.59, for a total value of $432,375.00. Following the sale, the director directly owned 208,378 shares in the company, valued at $7,207,795.02. The trade was a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $34.98, for a total value of $349,800.00. Following the completion of the sale, the director owned 184,859 shares in the company, valued at approximately $6,466,367.82. This trade represents a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 35,000 shares of company stock worth $1,182,175. Company insiders own 9.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APLD. Citigroup reissued an “outperform” rating on shares of Applied Digital in a report on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Applied Digital in a report on Friday, April 24th. Roth Mkm reissued a “buy” rating and issued a $65.00 target price on shares of Applied Digital in a report on Thursday, April 23rd. Compass Point reissued a “buy” rating and issued a $70.00 target price on shares of Applied Digital in a report on Friday, May 22nd. Finally, Lake Street Capital reissued a “buy” rating and issued a $70.00 target price (up from $55.00) on shares of Applied Digital in a report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Applied Digital presently has an average rating of “Moderate Buy” and a consensus target price of $59.11.

Applied Digital Company Profile

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.