The President's large open-market buy at $18.86 (below the Director's sale price of $21.84) suggests insider conviction at current levels, but the GAAP earnings miss and historical poor track record of bullish calls on APLD warrant caution. Monitor for additional insider buying or a 10b5-1 plan disclosure to confirm conviction.
Price Chart
Executive Summary
Applied Digital Corp. (APLD) insider cluster shows a mixed signal: President Jason Zhang made a $5.66M open-market purchase at $18.86/share, while Director Richard Nottenburg sold $683K worth at $21.84. The net direction is mixed, with the buy dominating by dollar value.
Key Financial Metrics
Key Facts
- President Jason Zhang purchased 300,000 shares open-market at $18.86/share for $5.66M on 2026-10-16
- Director Richard Nottenburg sold 31,250 shares open-market at $21.84/share for $682,500 on 2026-10-13
- Cluster total value: $6.34M; net direction is mixed (buys $5.66M vs sells $0.68M)
- Filing follows Q1 FY2027 earnings (8-K filed 2026-10-07): revenue $341.9M (+322% YoY) but GAAP net loss of $221.0M ($0.76/share) vs consensus -$0.17
- Zhang's purchase is a C-suite open-market buy of $5.66M, a strong standalone bullish signal per insider literature
Financial Impact
President's $5.66M open-market buy represents ~0.2% of market cap (est. $2.8B based on $21.84/share and ~128M shares outstanding); Director's $683K sale is ~0.02% of market cap
Risk Factors
- GAAP net loss of $221M and heavy cash burn may overshadow insider buying signal
- Director's sale could indicate mixed sentiment among insiders despite President's buy
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-APLD-1792408029586 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | Insider Cluster | $19.25 $17.83 | ▼ −7.38% | ▼ −7.23% | $19.51 (+1.35%) |
Oct 13, 2026 14d ago | 144 | $20.33 $20.98 | ▲ +3.22% | ▲ +2.77% | $19.51 (−4.01%) |
Oct 7, 2026 20d ago | 8-K | $23.85 $20.39 | ▲ +14.51% | ▲ +14.23% | $19.51 (+18.20%) |
Sep 28, 2026 29d ago | Press Release | $25.41 $25.34 | ▼ −0.28% | ▼ −2.22% | $19.51 (−23.22%) |
Sep 25, 2026 4w ago | DEFA14A | $24.53 $24.70 | ▲ +0.69% | ▼ −0.51% | $19.51 (−20.46%) |
Sep 25, 2026 4w ago | DEF 14A | $24.53 $24.70 | ▲ +0.69% | ▼ −0.51% | $19.51 (−20.46%) |
Jul 27, 2026 13w ago | 8-K | $26.62 $29.49 | ▲ +10.78% | ▲ +8.51% | $19.51 (−26.71%) |
Jun 26, 2026 17w ago | 8-K | $37.77 $33.50 | ▼ −11.31% | ▼ −12.69% | $19.51 (−48.35%) |
Jun 16, 2026 19w ago | 8-K | $45.57 $41.98 | ▼ −7.88% | ▼ −6.84% | $19.51 (−57.19%) |
Jun 12, 2026 19w ago | Institutional Cluster | $42.70 $46.59 | ▲ +9.11% | ▲ +8.44% | $19.51 (−54.31%) |
US Market Status
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