Allspring Global Investments Holdings LLC Boosts Stock Position in Schrodinger, Inc. $SDGR

Allspring Global Investments Holdings LLC boosted its holdings in Schrodinger, Inc. (NASDAQ:SDGR) by 17.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,319 shares of the company’s stock after buying an additional 30,948 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.28% of Schrodinger worth $4,131,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in Schrodinger by 347.4% in the second quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company’s stock valued at $26,000 after buying an additional 997 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Schrodinger in the first quarter valued at $37,000. PNC Financial Services Group Inc. boosted its stake in Schrodinger by 29.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company’s stock valued at $58,000 after acquiring an additional 680 shares in the last quarter. GAMMA Investing LLC boosted its stake in Schrodinger by 118.5% in the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company’s stock valued at $121,000 after acquiring an additional 3,313 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Schrodinger by 100.0% in the first quarter. Federated Hermes Inc. now owns 10,000 shares of the company’s stock valued at $197,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Insider Transactions at Schrodinger

In other Schrodinger news, insider Margaret Dugan sold 1,395 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $21.07, for a total value of $29,392.65. Following the completion of the transaction, the insider directly owned 24,574 shares of the company’s stock, valued at approximately $517,774.18. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 21.00% of the company’s stock.

Schrodinger Stock Up 13.8%

Shares of NASDAQ:SDGR opened at $21.98 on Tuesday. The company has a market cap of $1.62 billion, a P/E ratio of -8.86 and a beta of 1.74. Schrodinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47. The company has a 50-day moving average price of $19.67 and a 200 day moving average price of $21.39.

Schrodinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.24. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The company had revenue of $54.76 million during the quarter, compared to analysts’ expectations of $52.03 million. During the same period last year, the company posted ($0.66) earnings per share. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. Analysts expect that Schrodinger, Inc. will post -2.37 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on SDGR. KeyCorp decreased their price objective on shares of Schrodinger from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. The Goldman Sachs Group started coverage on shares of Schrodinger in a research note on Monday, September 29th. They issued a “neutral” rating and a $19.00 price objective for the company. Morgan Stanley decreased their target price on shares of Schrodinger from $28.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Wall Street Zen downgraded shares of Schrodinger from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th. Finally, Citigroup downgraded shares of Schrodinger from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $20.00 in a research note on Friday, August 15th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Schrodinger currently has a consensus rating of “Hold” and an average target price of $26.29.

Schrodinger Company 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.