Royal Fund Management 13F: Adds $1.5M to APLD Stake

Royal Fund Management increased its stake in Applied Digital Corporation (NASDAQ:APLD) during the period, according to a Form 13F filing with the SEC on October 22, 2026. The investment firm added 63,500 shares to its portfolio, representing a 184.3% increase from the prior period.

APLD Applied Digital Corporation

$20.98 ▼ -25.36% year to date

1M 3M YTD

Daily close · Oct 21, 2026

What Changed in Royal Fund Management's Applied Digital Position

Royal Fund Management raised its holdings from 34,450 shares to 97,950 shares by the end of the filing period. The reported value of the fund's investment reached $2,387,042 based on the disclosures.

Other Institutional Activity in Applied Digital

Other major institutional investors adjusted their positions in Applied Digital around the same time. Hood River Capital Management LLC trimmed its holdings by 55,6107 shares, ending with 22,518,887 shares worth about $429,885,556. Situational Awareness LP grew its holdings by 1,905,892 shares, ending with 15,384,616 shares worth about $293,692,321. Two Sigma Investments, LP grew its holdings by 8,706,503 shares, ending with 10,299,117 shares worth about $196,610,145. Equitec Proprietary Markets LLC grew its holdings by 4,186,982 shares, ending with 8,373,964 shares worth about $159,858,974. Dba Trading, LLC held steady with 0 change, ending with 5,576,235 shares worth about $106,450,327.

Applied Digital Corporation Stock Down 1.2%

Applied Digital shares closed at $19.09 on October 22, 2026, and recently traded around $19.11 as of October 23, 2026. The stock sits below its 50-day moving average of $25.60 and below its 200-day moving average of $31.87. Its 52-week range spans from a low of $17.65 to a high of $50.73.

Recent Earnings

Applied Digital reported trailing twelve-month revenue of $872.25 million. The business posted a net profit margin of -53.0% and a return on equity of -13.6%, resulting in an earnings per share of -$1.62 over the same period. The company does not currently have a meaningful P/E ratio due to negative earnings, and its forward P/E stands at -26.75.

Insider Buying and Selling at Applied Digital Corporation

Insiders executed notable trades in the stock recently. Director Richard N Nottenburg sold 31,250 shares on October 13, 2026, for $682,500. President Jason Gechen Zhang bought 300,000 shares on October 16, 2026, for about $5.66 million. CEO and Chairman Wes Cummins bought 55,803 shares on October 16, 2026, for about $1.01 million.

Analysts Set New Price Targets

Wall Street analysts hold a strong buy consensus on Applied Digital with a mean price target of $62.44 across 16 analyst opinions. On September 23, 2026, UBS initiated coverage with a buy rating and a $38.00 price target. Wells Fargo maintained its overweight rating on October 8, 2026, raising its target to $55.00 from $50.00. Freedom Capital Markets maintained a buy rating on October 8, 2026, with a $48.00 price target. Needham maintained a buy rating on October 8, 2026, lowering its target to $70.00 from $83.00. Morgan Stanley maintained an equal-weight rating on October 12, 2026, raising its target to $41.00 from $37.50.

About Applied Digital

Applied Digital Corporation builds and runs data center infrastructure for high-performance computing and artificial intelligence workloads across North America. The company provides specialized facilities and cloud services for demanding digital tasks, connecting clients with the infrastructure needed to power modern data applications.

Bottom Line

Investors will look toward the upcoming earnings report scheduled for January 6, 2027, for updates on Applied Digital's infrastructure growth. Institutional shifts and insider buying activity continue to draw market attention as the stock navigates levels below its moving averages.