Creative Planning Has $525,000 Stock Holdings in Applied Digital Corporation $APLD

Creative Planning increased its position in Applied Digital Corporation (NASDAQ:APLD) by 62.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,103 shares of the company’s stock after purchasing an additional 19,989 shares during the quarter. Creative Planning’s holdings in Applied Digital were worth $525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APLD. Atlantic Union Bankshares Corp acquired a new position in Applied Digital during the 2nd quarter valued at about $25,000. PNC Financial Services Group Inc. bought a new stake in shares of Applied Digital during the first quarter worth approximately $28,000. Geneos Wealth Management Inc. lifted its holdings in Applied Digital by 113.3% in the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock valued at $37,000 after buying an additional 3,542 shares during the period. Ameriflex Group Inc. acquired a new position in Applied Digital in the second quarter valued at approximately $42,000. Finally, ORG Wealth Partners LLC bought a new position in Applied Digital in the second quarter valued at approximately $66,000. 65.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APLD has been the subject of several recent research reports. Citigroup reiterated an “outperform” rating on shares of Applied Digital in a research report on Thursday, October 9th. Craig Hallum lifted their price objective on Applied Digital to $39.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Applied Digital in a research note on Wednesday, October 8th. Wall Street Zen cut Applied Digital from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, Northland Securities boosted their target price on Applied Digital to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Applied Digital has an average rating of “Moderate Buy” and a consensus target price of $26.20.

Applied Digital Stock Performance

Shares of Applied Digital stock opened at $31.22 on Friday. The stock’s fifty day simple moving average is $29.22 and its 200 day simple moving average is $18.69. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $8.70 billion, a PE ratio of -27.63 and a beta of 6.94. Applied Digital Corporation has a 12 month low of $3.31 and a 12 month high of $40.20.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings results on Thursday, October 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.08. The company had revenue of $64.22 million during the quarter, compared to the consensus estimate of $52.25 million. Applied Digital had a negative return on equity of 37.14% and a negative net margin of 111.29%.The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) earnings per share. On average, research analysts predict that Applied Digital Corporation will post -0.96 EPS for the current year.

Insiders Place Their Bets

In related news, Director Chuck Hastings sold 50,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $35.69, for a total transaction of $1,784,500.00. Following the completion of the sale, the director directly owned 451,612 shares of the company’s stock, valued at approximately $16,118,032.28. This represents a 9.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rachel H. Lee sold 24,213 shares of Applied Digital stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $33.20, for a total transaction of $803,871.60. Following the completion of the transaction, the director directly owned 59,400 shares in the company, valued at approximately $1,972,080. The trade was a 28.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 328,035 shares of company stock worth $11,376,479 in the last three months. 9.50% of the stock is owned by corporate insiders.

Applied Digital 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.