Allspring Global Investments Holdings LLC Lowers Stock Position in Schrödinger, Inc. (NASDAQ:SDGR)

Allspring Global Investments Holdings LLC cut its holdings in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 58.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 184,186 shares of the company’s stock after selling 261,066 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Schrödinger were worth $6,594,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in shares of Schrödinger by 3,480.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock worth $64,000 after acquiring an additional 1,740 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Schrödinger by 5.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,519 shares of the company’s stock worth $878,000 after acquiring an additional 1,278 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Schrödinger by 1,137.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 248,700 shares of the company’s stock worth $9,159,000 after acquiring an additional 228,600 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of Schrödinger by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 3,053,521 shares of the company’s stock worth $109,316,000 after acquiring an additional 217,618 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Schrödinger during the fourth quarter worth approximately $281,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schrödinger

In related news, insider Robert Lorne Abel sold 1,205 shares of Schrödinger stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the sale, the insider now owns 9,340 shares in the company, valued at $257,317. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Kenneth Patrick Lorton sold 901 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction of $25,489.29. Following the sale, the chief operating officer now owns 36,487 shares in the company, valued at approximately $1,032,217.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert Lorne Abel sold 1,205 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total transaction of $33,197.75. Following the sale, the insider now owns 9,340 shares in the company, valued at approximately $257,317. The disclosure for this sale can be found here. Insiders have sold a total of 3,651 shares of company stock worth $102,395 over the last quarter. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SDGR shares. KeyCorp decreased their price target on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. TD Cowen started coverage on shares of Schrödinger in a research note on Friday, January 26th. They issued an “outperform” rating and a $42.00 target price on the stock. Citigroup decreased their target price on shares of Schrödinger from $47.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Craig Hallum decreased their target price on shares of Schrödinger from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Finally, The Goldman Sachs Group decreased their target price on shares of Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Schrödinger has a consensus rating of “Moderate Buy” and a consensus price target of $43.50.

Schrödinger Stock Down 2.8 %

NASDAQ:SDGR opened at $24.34 on Friday. The stock has a market cap of $1.76 billion, a P/E ratio of 38.64 and a beta of 1.57. The firm’s fifty day simple moving average is $27.33 and its 200 day simple moving average is $28.40. Schrödinger, Inc. has a twelve month low of $20.76 and a twelve month high of $59.24.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. The business had revenue of $74.10 million for the quarter, compared to analysts’ expectations of $79.12 million. Schrödinger had a net margin of 18.79% and a negative return on equity of 23.58%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.39) earnings per share. On average, analysts expect that Schrödinger, Inc. will post -2.73 EPS for the current fiscal year.

About Schrödinger

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.