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Applied Digital rises as new Texas AI data center deal, bullish analyst call, and insider buying lift sentiment

Investivoq PriceTracker

Applied Digital Corporation (APLD) is up 9.5% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to a fresh strategic partnership in Texas, a new bullish analyst reinstatement, and recently disclosed insider buying. Together, those developments likely reinforced the market’s view that Applied Digital is still expanding its AI infrastructure footprint despite recent volatility.

Details:

  • Soluna announced a definitive agreement to form a jointly owned company with Applied Digital to develop a planned 50 MW AI and HPC data center at a Texas wind-powered site, with an additional 50 MW request already under study.
  • Market sentiment also got a boost from a new Buy rating and $35 price target from Roth/MKM, which framed the stock’s valuation as offering meaningful upside if execution continues.
  • SEC Form 4 filings dated October 19 show CEO Wes Cummins bought 55,803 shares on October 16 at $18.04, while President Jason Zhang bought 300,000 shares at a weighted average price of $18.86 on the same day.
  • The backdrop was already constructive after Applied Digital reported fiscal first-quarter 2027 revenue of $341.9 million, up 322% year over year, and highlighted recent capacity expansion and new power and campus development milestones.

    • Sources:

    Soluna, SEC, Applied Digital, Google Finance

    Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

    $APLD Insider Trading Activity

    APLD Insider Trades

    $APLD insiders have traded $APLD stock on the open market 7 times in the past 6 months. Of those trades, 2 have been purchases and 5 have been sales.

    Here’s a breakdown of recent trading of $APLD stock by insiders over the last 6 months:

    • JASON GECHEN ZHANG (President) purchased 300,000 shares for an estimated $5,658,000
    • RICHARD N NOTTENBURG has made 0 purchases and 4 sales selling 131,250 shares for an estimated $3,851,125.
    • WES CUMMINS (CEO; Chairman) purchased 55,803 shares for an estimated $1,006,686
    • DOUGLAS S MILLER sold 10,000 shares for an estimated $349,799

    To track insider transactions, check out Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

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    $APLD Hedge Fund Activity

    We have seen 324 institutional investors add shares of $APLD stock to their portfolio, and 215 decrease their positions in their most recent quarter.

    Here are some of the largest recent moves:

    • TWO SIGMA INVESTMENTS, LP added 8,706,515 shares (+546.7%) to their portfolio in Q2 2026, for an estimated $324,753,009
    • EQUITEC PROPRIETARY MARKETS, LLC added 8,373,964 shares (+inf%) to their portfolio in Q2 2026, for an estimated $312,348,857
    • BLACKROCK, INC. removed 7,521,031 shares (-36.0%) from their portfolio in Q2 2026, for an estimated $280,534,456
    • DBA TRADING, LLC added 5,576,235 shares (+inf%) to their portfolio in Q2 2026, for an estimated $207,993,565
    • D. E. SHAW & CO., INC. removed 5,172,729 shares (-63.0%) from their portfolio in Q2 2026, for an estimated $192,942,791
    • OASIS MANAGEMENT CO LTD. added 3,974,500 shares (+384.8%) to their portfolio in Q2 2026, for an estimated $148,248,850
    • NORGES BANK added 2,783,977 shares (+913.7%) to their portfolio in Q2 2026, for an estimated $103,842,342

    To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

    $APLD Price Targets

    Multiple analysts have issued price targets for $APLD recently. We have seen 6 analysts offer price targets for $APLD in the last 6 months, with a median target of $80.5.

    Here are some recent targets:

    • Mike Grondahl from Northland Capital Markets set a target price of $82.0 on 06/17/2026
    • John Todaro from Needham set a target price of $83.0 on 06/09/2026
    • Rob Brown from Lake Street set a target price of $90.0 on 06/09/2026
    • George Sutton from Craig-Hallum set a target price of $79.0 on 06/09/2026
    • Nick Giles from B. Riley Securities set a target price of $66.0 on 05/27/2026
    • Gregory Miller from Citizens set a target price of $60.0 on 05/21/2026

    This article is not financial advice. See Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.