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✦ Spy Mode investigation

Wes Cummins's $1.0M purchase of APLD

Applied Digital Corp. · CEO, Chair · filed Oct 19, 2026. Opened Oct 28, 2026, last checked Oct 28, 2026. 7-day result in; next check Nov 18, 2026.

Reported value$1.0M55,803 shares at $18.04
For this personUnusual1 buy · 1 sale on file
Similar buys beat S&P35%68 cases · all buys 46%

Worth a closer look

  • Open-market purchase with their own money (Form 4 code P), not a grant or option exercise.
  • Bought by the CEO, one of the two people with the fullest view of the company.
  • Their first purchase here in our data, after 1 sale.

Reasons for caution

  • Small next to what they already own (holding up 1.0%).
  • Similar past buys beat the S&P 500 only 35% of the time (68 cases); the typical one trailed it by 3.0%.
  • Their past buys: only 1 of 3 beat the S&P 500.

What happened after this filing

7 days -7.4% -7.2% vs S&P
30 days Pending due Nov 18
90 days Pending due Jan 17

What we couldn't check

  • Why they traded. Filings don't say, and we don't guess.
  • Company news after the filing, and any private terms.
Summary

Wes Cummins (CEO) bought $1.0M of APLD at about $18.04 on Oct 16, 2026, reported to the SEC on Oct 19, 2026. Buys like this beat the S&P 500 35% of the time since 2020, against 46% for all insider buys. We found 3 points that make it worth a closer look and 3 reasons for caution. History, not a prediction.

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Written by fixed rules from SEC filings and our measured history, not by an AI model. Public data only. History, not a prediction, and not investment advice.

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