Pertento Partners LLP Boosts Stock Holdings in Applied Digital Co. (NASDAQ:APLD)

Pertento Partners LLP grew its stake in shares of Applied Digital Co. (NASDAQ:APLD) by 49.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,528,717 shares of the company’s stock after buying an additional 831,705 shares during the period. Applied Digital accounts for approximately 1.6% of Pertento Partners LLP’s holdings, making the stock its 19th biggest holding. Pertento Partners LLP owned approximately 1.13% of Applied Digital worth $19,319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Applied Digital by 39.1% during the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company’s stock valued at $97,487,000 after acquiring an additional 3,587,619 shares during the period. Van ECK Associates Corp grew its holdings in shares of Applied Digital by 113.8% during the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company’s stock worth $33,649,000 after purchasing an additional 2,344,572 shares during the period. American Century Companies Inc. acquired a new stake in Applied Digital during the 4th quarter worth approximately $12,843,000. Geode Capital Management LLC raised its holdings in Applied Digital by 48.7% in the third quarter. Geode Capital Management LLC now owns 3,061,160 shares of the company’s stock valued at $25,258,000 after buying an additional 1,002,862 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Applied Digital by 100.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,798,431 shares of the company’s stock worth $13,740,000 after buying an additional 899,138 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Stock Down 6.2 %

APLD stock opened at $5.72 on Friday. The company has a market capitalization of $1.28 billion, a P/E ratio of -3.31 and a beta of 4.69. The firm has a 50 day simple moving average of $7.76 and a 200-day simple moving average of $7.99. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital Co. has a twelve month low of $2.36 and a twelve month high of $12.48.

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

Insider Activity at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $177,000.00. Following the completion of the transaction, the director now owns 342,923 shares of the company’s stock, valued at $3,034,868.55. The trade was a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 11.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research note on Monday, February 24th. Northland Securities boosted their price objective on Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Compass Point assumed coverage on Applied Digital in a report on Tuesday, January 28th. They set a “buy” rating and a $10.00 target price on the stock. Cantor Fitzgerald decreased their price target on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, HC Wainwright increased their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. 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 an average target price 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.