BlackRock Takes 5.1% Stake in Applied Digital Corp.
Ticker: APLD · Form: SC 13G · Filed: Feb 2, 2024 · CIK: 1144879
| Field | Detail |
|---|---|
| Company | Applied Digital CORP. (APLD) |
| Form Type | SC 13G |
| Filed Date | Feb 2, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, passive-investment
TL;DR
**BlackRock just bought a big chunk of Applied Digital, signaling institutional confidence.**
AI Summary
BlackRock Inc., a major investment firm, reported on February 2, 2024, that it holds 5.1% of the Common Stock in Applied Digital Corp. as of December 31, 2023. This means BlackRock now owns 14,082,735 shares, making them a significant institutional shareholder. This matters to investors because BlackRock's substantial stake signals confidence in Applied Digital's future, potentially attracting other institutional investors and providing a stamp of approval for the company's long-term prospects.
Why It Matters
BlackRock's significant investment could boost investor confidence and potentially stabilize or increase the stock price of Applied Digital Corp. due to increased institutional ownership.
Risk Assessment
Risk Level: low — This filing indicates a large institutional investment, which generally reduces risk by providing stability and validation for the company.
Analyst Insight
A smart investor would view BlackRock's significant stake as a positive signal, potentially indicating long-term value, and might consider further research into Applied Digital Corp.'s fundamentals.
Key Numbers
- 14,082,735 — Shares Owned (Total shares of Applied Digital Corp. Common Stock beneficially owned by BlackRock Inc.)
- 5.1% — Ownership Percentage (Percentage of Applied Digital Corp. Common Stock owned by BlackRock Inc.)
Key Players & Entities
- BlackRock Inc. (company) — filer and institutional investor
- Applied Digital Corp. (company) — subject company of the filing
- 14,082,735 (dollar_amount) — number of shares beneficially owned by BlackRock Inc.
- 5.1% (dollar_amount) — percentage of class beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — date of event requiring the filing
- February 2, 2024 (date) — filing date
Forward-Looking Statements
- Applied Digital Corp. may see increased institutional interest. (Applied Digital Corp.) — medium confidence, target: Q2 2024
- BlackRock Inc. will maintain or slightly increase its stake in Applied Digital Corp. (BlackRock Inc.) — medium confidence, target: End of 2024
FAQ
Who filed this SC 13G statement?
This SC 13G statement was filed by BlackRock Inc., as indicated in the 'FILED BY' section of the filing.
What company is the subject of this filing?
The subject company of this filing is Applied Digital Corp., as stated under 'SUBJECT COMPANY' and 'Name of Issuer'.
What percentage of Applied Digital Corp.'s Common Stock does BlackRock Inc. now beneficially own?
BlackRock Inc. beneficially owns 5.1% of Applied Digital Corp.'s Common Stock, as reported in the filing.
How many shares of Common Stock does BlackRock Inc. beneficially own in Applied Digital Corp.?
BlackRock Inc. beneficially owns 14,082,735 shares of Common Stock in Applied Digital Corp., according to the filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 2, 2024 regarding Applied Digital Corp. (APLD).