Gunderson Capital Management Inc. Takes Position in Applied Digital Co. (NASDAQ:APLD)

Gunderson Capital Management Inc. bought a new position in shares of Applied Digital Co. (NASDAQ:APLD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,892 shares of the company’s stock, valued at approximately $83,000.

Several other hedge funds have also recently bought and sold shares of APLD. Geode Capital Management LLC boosted its holdings in shares of 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. Hood River Capital Management LLC lifted its position in Applied Digital by 8.7% in the 2nd quarter. Hood River Capital Management LLC now owns 9,596,231 shares of the company’s stock valued at $57,098,000 after acquiring an additional 771,699 shares in the last quarter. Alight Capital Management LP acquired a new position in Applied Digital in the 2nd quarter worth $3,570,000. Barclays PLC increased its holdings in Applied Digital by 736.8% during the 3rd quarter. Barclays PLC now owns 486,577 shares of the company’s stock worth $4,014,000 after purchasing an additional 428,428 shares in the last quarter. Finally, Thomist Capital Management LP acquired a new stake in shares of Applied Digital in the 2nd quarter valued at about $2,529,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Stock Performance

NASDAQ APLD opened at $7.76 on Tuesday. The firm’s fifty day moving average price is $8.70 and its two-hundred day moving average price is $6.92. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $11.25. The firm has a market capitalization of $1.64 billion, a P/E ratio of -6.63 and a beta of 4.78. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on APLD shares. Craig Hallum upped their price objective on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. HC Wainwright raised their price target on shares of Applied Digital from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Roth Mkm reiterated a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Applied Digital in a report on Friday, November 1st. Finally, Cantor Fitzgerald started coverage on shares of Applied Digital in a research note on Friday, December 20th. They issued an “overweight” rating and a $15.00 price target on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital has an average rating of “Buy” and an average price target of $11.14.

Insider Activity

In other news, CEO Wes Cummins sold 200,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $9.20, for a total value of $1,840,000.00. Following the transaction, the chief executive officer now directly owns 3,875,955 shares of the company’s stock, valued at $35,658,786. This represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $8.01, for a total transaction of $80,100.00. Following the sale, the director now owns 208,506 shares of the company’s stock, valued at approximately $1,670,133.06. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 279,369 shares of company stock valued at $2,525,561. 11.81% of the stock is owned by company insiders.

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.