Applied Digital ($APLD) CEO and President Buy $6.66 Million in Shares

Two top executives at Applied Digital ($APLD) purchased approximately $6.66 million in company shares on October 16, according to SEC filings released Monday. The purchases by CEO Wes Cummins and President Jason Gechen Zhang mark the first reported insider buying since May 2023 in the available transaction history, following an extended period of insider sales.

• President Jason Gechen Zhang purchased 300,000 shares at an average price of $18.86, totaling approximately $5.66 million.
• CEO and Chairman Wes Cummins purchased 55,803 shares at $18.04, totaling approximately $1.01 million.
• The combined purchases totaled 355,803 shares.
• Applied Digital develops and operates data centers supporting artificial intelligence and high-performance computing workloads.
• On October 7, the company reported fiscal first-quarter revenue of $341.9 million, up 322% year over year.
• The company reported a $221 million loss attributable to common stockholders from continuing operations, compared with an $18.5 million loss a year earlier.
• Applied Digital reported $3.7 billion in cash and restricted cash and $6.4 billion in debt as of August 31.

Relevant Companies

• Applied Digital ($APLD) - Its CEO and president disclosed approximately $6.66 million in combined share purchases.

Editor’s Note: This is a developing story. This article may be updated as more details become available.