Applied Digital insiders buy roughly $7M in shares as stock slides more than 30%

President Jason Zhang and CEO Wes Cummins bought a combined $6.7 million of APLD stock after a steep monthly decline Applied Digital’s stock has spent the past month getting knocked around. Two of its top executives responded by opening their own wallets. On October 16, 2026, President Jason Gechen Zhang and CEO and Chairman Wes Cummins bought approximately $6.7 million of Applied Digital (NASDAQ: APLD) stock combined. The purchases came after shares had fallen more than 30% in a single month. Who bought what, and at what price Zhang made the bigger bet by a wide margin. He purchased 300,000 shares at an average price of $18.86, a total of approximately $5.66 million. Cummins added 55,803 shares at $18.04 apiece. That works out to about $1.01 million. Put together, the two transactions are valued at approximately $6.7 million. Zhang’s purchase accounts for the large majority of that figure. The timing matters. In the month before the buys, Applied Digital shares slid more than 30% and touched a low of $15.71, which marked a 52-week low for the stock. The market noticed. In the trading sessions after the insider activity, Applied Digital’s stock climbed more than 10%. The analyst ba...