Applied Digital Co. (NASDAQ:APLD) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its holdings in shares of Applied Digital Co. (NASDAQ:APLD) by 20.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 524,718 shares of the company’s stock after acquiring an additional 88,090 shares during the period. Sei Investments Co.’s holdings in Applied Digital were worth $4,009,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of APLD. Charles Schwab Investment Management Inc. increased its stake in Applied Digital by 36.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock valued at $7,419,000 after purchasing an additional 240,554 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Applied Digital during the 3rd quarter worth approximately $545,000. Rhumbline Advisers boosted its holdings in Applied Digital by 68.7% in the fourth quarter. Rhumbline Advisers now owns 258,892 shares of the company’s stock valued at $1,978,000 after purchasing an additional 105,428 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Applied Digital by 37.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock worth $7,656,000 after buying an additional 273,666 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Applied Digital by 736.8% during the third quarter. Barclays PLC now owns 486,577 shares of the company’s stock worth $4,014,000 after buying an additional 428,428 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

Analysts Set New Price Targets

APLD has been the topic of several recent analyst reports. HC Wainwright increased their target price on shares of Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald cut their price target 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. Northland Securities upped their price objective on shares of Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Finally, Compass Point started coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They set a “buy” rating and a $10.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $12.11.

Insiders Place Their Bets

In related news, Director Richard N. Nottenburg sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $177,000.00. Following the completion of the transaction, the director now directly owns 342,923 shares in the company, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.81% of the stock is currently owned by insiders.

Applied Digital Trading Up 2.5 %

APLD opened at $6.24 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The company’s 50 day simple moving average is $7.56 and its two-hundred day simple moving average is $8.00. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -3.61 and a beta of 4.69. Applied Digital Co. has a 1-year low of $2.36 and a 1-year high of $12.48.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The company had revenue of $63.87 million for the quarter, compared to analyst estimates of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The firm’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Analysts expect that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

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.