Applied Digital (APLD) Director N Sells $682K of Stock

Richard N. Nottenburg, a director at Applied Digital Corporation (APLD), sold 31,250 shares on October 13, 2026, for approximately $682,500. The shares were sold at a price of $21.84 each, reflecting a notable insider transaction as the stock continues to face downward pressure.

Inside Nottenburg's Trade

Nottenburg's sale is significant, given the size of the transaction and its timing. The 31,250 shares represent a considerable portion of his holdings, and the sale occurred as APLD stock trades well below its recent moving averages. This trade was not a planned transaction, which adds to its impact.

Other Institutional Activity in Applied Digital

Hood River Capital Management LLC reduced its stake in Applied Digital, selling 556,107 shares, ending with 22,518,887 shares worth about $406.5 million. Situational Awareness LP increased its holdings by 1,905,892 shares, bringing its total to 15,384,616 shares valued at approximately $277.7 million. Vanguard Portfolio Management LLC also trimmed its position by 1,079,528 shares, holding 13,728,812 shares worth about $247.8 million. Blackrock Inc. cut its stake significantly, selling 7,520,213 shares and ending with 13,375,070 shares valued at around $241.4 million. Vanguard Capital Management LLC increased its holdings by 780,158 shares, totaling 11,555,819 shares worth about $208.6 million.

Applied Digital Corporation Stock Down 10.4%

APLD shares recently traded around $18.20, which is significantly below its 50-day moving average of $26.58 and its 200-day average of $32.04. The stock is also 64.1% below its 52-week high of $50.73, indicating a challenging market environment for the company.

Recent Earnings

Applied Digital reported trailing twelve-month revenue of $872.3 million and a net margin of -53.0%. The company is set to announce its next earnings report on January 6, 2027. Its year-over-year revenue growth stands at an impressive 322.4%, although it has a negative EPS of -1.62.

Insider Buying and Selling at Applied Digital Corporation

In addition to Nottenburg's recent sale, he previously sold 25,000 shares on April 30, 2026. Chief Financial Officer Mohmand Mohammad Saidal Lavanway also sold 192,815 shares on June 22, 2026, for about $8.72 million, while he bought 490,000 shares on the same day.

Analysts Set New Price Targets

On September 23, 2026, UBS initiated coverage on APLD with a Buy rating and a target price of $38.00. Wells Fargo maintained an Overweight rating with an updated target of $55.00 on October 8, 2026. Freedom Capital Markets also maintained a Buy rating, targeting $48.00, and Needham kept a Buy rating with a revised target of $70.00. Morgan Stanley maintained an Equal-Weight rating with a target of $41.00 on October 12, 2026. The consensus among analysts is a strong buy with a mean price target of $64.27 based on 15 opinions.

About Applied Digital Corporation

Applied Digital Corporation focuses on providing digital infrastructure solutions for high-performance computing and artificial intelligence industries. The company operates data center hosting and HPC hosting businesses, catering to clients in crypto mining and cloud services. This insider activity comes at a time when the stock is underperforming compared to its historical highs.

Bottom Line

Investors should watch for Applied Digital's upcoming earnings announcement on January 6, 2027. The recent insider selling may raise questions about management's confidence as the stock struggles in a competitive market.