Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
Leslie D. Funtleyder, the Interim Chief Executive Officer and Chief Financial Officer of Applied Therapeutics, Inc. (NASDAQ:APLT), recently sold 22,950 shares of the company’s common stock. The shares were sold at a price of $0.61 each, totaling approximately $13,999. This transaction comes as the stock has experienced significant volatility, with InvestingPro data showing a 90% decline over the past six months and a current market capitalization of $71.2 million. This transaction was conducted on February 6, 2025, and was filed with the Securities and Exchange Commission (SEC) on February 7, 2025.
The sale was executed to cover tax withholding obligations related to the vesting and settlement of compensatory Restricted Stock Units, as noted in the filing. Following this transaction, Funtleyder holds 404,961 shares directly. The sale was not a discretionary transaction by Funtleyder, according to the footnotes in the SEC filing.
In other recent news, Applied Digital Corporation outperformed Q2 estimates, registering a significant increase in revenue and adjusted earnings. The company reported adjusted earnings per share of -$0.06 for the quarter, surpassing analyst consensus of -$0.14. Revenue rose to $63.9 million, a 51% YoY increase, slightly exceeding estimates of $63.39 million. Major contributors to this growth were the Cloud Services segment, which saw a 523% YoY increase to $27.7 million, and the Data Center Hosting business, generating $36.2 million in quarterly revenue.
Further developments include late-stage negotiations for Applied Digital’s Ellendale campus and a net loss of $138.7 million for the quarter due to significant non-cash charges related to debt conversion and fair value adjustments. The company also announced a $5 billion perpetual preferred equity financing facility with Macquarie Asset Management for its high-performance computing business. While Applied Digital did not provide specific financial guidance, the company expressed confidence in its ability to meet the growing demand for power and data centers to support AI and high-performance computing applications.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.