Allspring Global Investments Holdings LLC Boosts Holdings in Schrodinger, Inc. (NASDAQ:SDGR)

Allspring Global Investments Holdings LLC grew its holdings in shares of Schrodinger, Inc. (NASDAQ:SDGR) by 30.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 174,371 shares of the company’s stock after acquiring an additional 40,568 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.24% of Schrodinger worth $3,442,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Greenwood Capital Associates LLC increased its stake in shares of Schrodinger by 2.7% in the first quarter. Greenwood Capital Associates LLC now owns 23,139 shares of the company’s stock worth $457,000 after buying an additional 612 shares during the period. United Advisor Group LLC increased its stake in shares of Schrodinger by 3.3% in the fourth quarter. United Advisor Group LLC now owns 19,769 shares of the company’s stock worth $381,000 after buying an additional 634 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Schrodinger by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company’s stock worth $610,000 after buying an additional 1,202 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Schrodinger in the fourth quarter worth $27,000. Finally, Swiss National Bank increased its stake in shares of Schrodinger by 1.2% in the fourth quarter. Swiss National Bank now owns 125,100 shares of the company’s stock worth $2,413,000 after buying an additional 1,500 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schrodinger

In other news, insider Karen Akinsanya sold 16,723 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $25.09, for a total transaction of $419,580.07. Following the sale, the insider owned 15,625 shares in the company, valued at approximately $392,031.25. The trade was a 51.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SDGR shares. KeyCorp lifted their target price on shares of Schrodinger from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Morgan Stanley started coverage on shares of Schrodinger in a research report on Thursday. They set an “equal weight” rating and a $28.00 price objective on the stock.

Schrodinger Stock Performance

Shares of Schrodinger stock opened at $20.96 on Monday. The company’s fifty day simple moving average is $22.66 and its two-hundred day simple moving average is $22.34. The company has a market cap of $1.54 billion, a P/E ratio of -7.97 and a beta of 1.58. Schrodinger, Inc. has a 12-month low of $16.60 and a 12-month high of $28.47.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.01). Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. The company had revenue of $59.55 million for the quarter, compared to analysts’ expectations of $54.60 million. During the same period in the previous year, the firm posted ($0.86) earnings per share. The firm’s revenue for the quarter was up 62.7% compared to the same quarter last year. Analysts predict that Schrodinger, Inc. will post -2.37 EPS for the current fiscal year.

Schrodinger Profile

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.