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Applied Digital Executives Cut Stakes Amid Institutional Surge

1/20/2025

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Summary

CEO Sells Shares

CEO Wes Cummins of Applied Digital has made waves by selling 200,000 shares at $9.20, trimming his stake by nearly 5%. Meanwhile, Director Richard N. Nottenburg followed suit, reducing his ownership by 4.80%. Institutional investors now dominate with 65.67% of the stock, bolstered by increased investments from Geode Capital and Bank of New York Mellon.

Summary

Applied Digital Surprises Investors

Applied Digital (NASDAQ: APLD) surprised investors with a Q2 2026 EPS of ($0.06), beating expectations of ($0.14). Revenue soared to $63.87 million, marking a remarkable 51.3% increase from last year. With analysts boosting price targets and a consensus "Buy" rating, the stock is currently trading at $8.90, reflecting a market cap of $1.88 billion.

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CEO Sells Shares

CEO Wes Cummins of Applied Digital has made waves by selling 200,000 shares at $9.20, trimming his stake by nearly 5%. Meanwhile, Director Richard N. Nottenburg followed suit, reducing his ownership by 4.80%. Institutional investors now dominate with 65.67% of the stock, bolstered by increased investments from Geode Capital and Bank of New York Mellon.

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