Applied Digital Co. (NASDAQ:APLD) Position Raised by Pertento Partners LLP

Pertento Partners LLP lifted its position in shares of Applied Digital Co. (NASDAQ:APLD) by 49.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,528,717 shares of the company’s stock after acquiring an additional 831,705 shares during the period. Applied Digital accounts for 1.6% of Pertento Partners LLP’s portfolio, making the stock its 19th biggest holding. Pertento Partners LLP’s holdings in Applied Digital were worth $19,319,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Victory Capital Management Inc. grew its position in Applied Digital by 72.5% in the 3rd quarter. Victory Capital Management Inc. now owns 19,535 shares of the company’s stock worth $161,000 after purchasing an additional 8,212 shares during the last quarter. Intech Investment Management LLC bought a new position in Applied Digital in the 3rd quarter worth approximately $115,000. Charles Schwab Investment Management Inc. increased its position in Applied Digital by 36.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock valued at $7,419,000 after acquiring an additional 240,554 shares during the period. The Manufacturers Life Insurance Company raised its stake in Applied Digital by 14.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,064 shares of the company’s stock valued at $355,000 after acquiring an additional 5,423 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Applied Digital during the 3rd quarter worth $283,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $177,000.00. Following the sale, the director now directly owns 342,923 shares of the company’s stock, valued at $3,034,868.55. The trade was a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.81% of the company’s stock.

Applied Digital Price Performance

NASDAQ APLD opened at $5.72 on Friday. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $12.48. The business’s fifty day moving average is $7.76 and its two-hundred day moving average is $7.99. The stock has a market capitalization of $1.28 billion, a P/E ratio of -3.31 and a beta of 4.69. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77.

Applied Digital (NASDAQ:APLD) last announced its 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 for the quarter, compared to analyst estimates of $62.41 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. Applied Digital’s revenue for the quarter was up 51.3% compared to the same quarter last year. On average, research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on APLD shares. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Applied Digital in a report on Monday, February 24th. Compass Point assumed coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They set a “buy” rating and a $10.00 target price on the stock. HC Wainwright boosted 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 Wednesday, January 15th. Cantor Fitzgerald decreased their price objective on shares of Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, 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. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $12.11.

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.