Applied Digital (APLD) CEO Wes Cummins Buys $1M of Stock

Applied Digital Corporation's CEO and Chairman, Wes Cummins, bought 55,803 shares of the company on October 16, 2026. The purchase was disclosed in a Form 4 filing with the Securities and Exchange Commission.

APLD Applied Digital Corporation

$18.05 ▼ -35.79% year to date

1M 3M YTD

Daily close · Oct 16, 2026

Inside Wes Cummins's Applied Digital Trade

Cummins picked up the shares at a price of $18.04 each, bringing the total value of the transaction to $1,006,686.12. Following this open-market purchase, he directly holds 5,874,453 shares of the company, lifting his position by about 0.96%. The stock closed at $18.05 on the day of the transaction.

Other Institutional Activity in Applied Digital

Large investment firms have adjusted their positions in Applied Digital over recent quarters. Hood River Capital Management LLC reduced its holdings by 556,107 shares, ending with 22,518,887 shares worth about $406.47 million. Situational Awareness LP grew its stake by 1,905,892 shares to finish with 15,384,616 shares valued at roughly $277.69 million. Two Sigma Investments, LP significantly expanded its footprint, adding 8,706,503 shares for a total of 10,299,117 shares worth about $185.90 million. Equitec Proprietary Markets LLC doubled its holdings by adding 4,186,982 shares, ending with 8,373,964 shares valued at $151.15 million. Meanwhile, Dba Trading, LLC kept its position steady, holding 5,576,235 shares valued at about $100.65 million.

Applied Digital Corporation Stock Down 11.2%

The stock recently traded around $18.05 as of October 19, 2026, matching its close of $18.05 on the transaction date. Shares trade well below their 50-day moving average of $26.58 and their 200-day moving average of $32.04. The company carries a market capitalization of roughly $6.17 billion.

Recent Earnings

Applied Digital reported trailing-twelve-month revenue of $872.25 million, alongside a net margin of negative 53.0% and a return on equity of negative 13.6%. The company's next earnings report is scheduled for January 6, 2027.

Insider Buying and Selling at Applied Digital Corporation

Insider activity at Applied Digital has included both sales and purchases across the leadership team. Earlier, Chief Financial Officer Mohmand Mohammad Saidal Lavanway sold 192,815 shares on June 22, 2026, for $8.72 million, and bought 490,000 shares on the same date. Director Richard N Nottenburg sold 75,000 shares for $2.34 million on August 4, 2026, and later sold 31,250 shares for $682,500 on October 13, 2026. Separately, President Jason Gechen Zhang bought 300,000 shares on October 16, 2026, for about $5.66 million.

Analysts Set New Price Targets

Wall Street firms maintain various stances on the stock. UBS initiated coverage with a buy rating and a $38.00 price target on September 23, 2026. Wells Fargo maintained an overweight rating while raising its target to $55.00 from $50.00 on October 8, 2026. Freedom Capital Markets kept a buy rating and a $48.00 target on October 8, 2026. Needham maintained a buy rating while lowering its target from $83.00 to $70.00 on October 8, 2026. Morgan Stanley kept an equal-weight rating and raised its target to $41.00 from $37.50 on October 12, 2026. The stock currently holds a consensus strong buy rating from 15 analysts.

About Applied Digital

Applied Digital Corporation builds and runs digital infrastructure for high-performance computing and artificial intelligence workloads across North America. The firm operates data centers that offer cloud services to AI and machine learning developers, as well as energized infrastructure for crypto mining clients. Insider purchases from key leaders provide insight into how management views the company's valuation as its shares trade below recent historical levels.

Bottom Line

CEO Wes Cummins's open-market purchase adds to a notable string of insider trades at Applied Digital. Investors will look toward the company's next earnings update on January 6, 2027, for further details on its data center and AI hosting operations.