New insider activity at Applied Digital Corporation ( (APLD) ) has taken place on January 16, 2026.
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Recent insider activity at Applied Digital Corporation shows notable share sales by top executives. Director Richard Nottenburg disposed of 23,606 shares of company stock in a transaction totaling $834,859. In a separate, larger move, CEO and Chairman Wes Cummins sold 165,000 shares of Applied Digital Corporation, generating proceeds of $6,009,300. These transactions highlight significant insider selling at the company, with combined stock sales exceeding 188,000 shares and total value surpassing $6.8 million.
Recent Updates on APLD stock
Over the last day, Applied Digital’s stock has seen notable volatility, with shares recently trading in the mid-$30s and pulling back around 4% in the context of heavy but mixed options activity: call volume continues to outpace puts, yet put–call skew has steepened as traders seek more downside protection and implied volatility, though elevated, sits in the lower end of its one-year range. Fundamentally, sentiment is being shaped by the company’s ongoing AI infrastructure expansion, highlighted by its Polaris Forge AI data center campuses and recent large hyperscaler lease wins, which give analysts greater visibility into near-term revenue ramps and underpin constructive long-term views. At the same time, Spark’s Neutral stance reflects concern that, despite the strong technical uptrend and upbeat earnings-call commentary, Applied Digital still exhibits weak financial quality—deep losses, negative operating and free cash flow, and high leverage—while its valuation is harder to anchor due to negative earnings and the absence of dividend support. On the corporate side, the board’s move to elevate co-founder and Chief Strategy Officer Jason Zhang to President, while maintaining Wes Cummins as CEO, is viewed as reinforcing strategic continuity and execution around the AI build-out rather than signaling a change in direction, contributing to a generally positive but risk-aware outlook behind recent analyst reassessments of the stock’s potential.
Spark’s Take on APLD Stock
According to Spark, TipRanks’ AI Analyst, APLD is a Neutral.
The score reflects a strong technical uptrend and a notably positive earnings-call backdrop driven by large hyperscaler lease wins and a visible near-term ramp, but is held back by weak financial quality—deep losses, negative operating cash flow, very large negative free cash flow, and elevated leverage. Valuation is also constrained by negative earnings (negative P/E) and no stated dividend support.
To see Spark’s full report on APLD stock, click here.
More about Applied Digital Corporation
YTD Price Performance: 43.64%
Average Trading Volume: 29,874,176
Technical Sentiment Signal: Buy
Current Market Cap: $10.09B