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

Allspring Global Investments Holdings LLC lifted its stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,371 shares of the company's stock after buying an additional 40,568 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.24% of Schrodinger worth $3,442,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SDGR. Raymond James Financial Inc. purchased a new position in shares of Schrodinger during the 4th quarter worth approximately $325,000. Two Sigma Advisers LP purchased a new stake in shares of Schrodinger in the 4th quarter worth about $473,000. GAMMA Investing LLC grew its position in shares of Schrodinger by 118.5% in the 1st quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock worth $121,000 after buying an additional 3,313 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Schrodinger in the 4th quarter worth about $330,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Schrodinger in the 4th quarter worth about $1,939,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SDGR. Morgan Stanley began coverage on Schrodinger in a research note on Thursday, July 3rd. They issued an "equal weight" rating and a $28.00 price target on the stock. KeyCorp increased their price objective on shares of Schrodinger from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th.

Insider Buying and Selling at Schrodinger

In other news, insider Karen Akinsanya sold 16,723 shares of Schrodinger stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $25.09, for a total transaction of $419,580.07. Following the transaction, the insider directly owned 15,625 shares of the company's stock, valued at $392,031.25. The trade was a 51.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by corporate insiders.

Schrodinger Stock Up 2.2%

Shares of NASDAQ SDGR traded up $0.47 during trading on Wednesday, reaching $21.89. 294,988 shares of the company traded hands, compared to its average volume of 914,782. The stock has a market capitalization of $1.61 billion, a PE ratio of -8.30 and a beta of 1.58. Schrodinger, Inc. has a 52-week low of $16.60 and a 52-week high of $28.47. The firm has a 50 day simple moving average of $22.47 and a 200-day simple moving average of $22.34.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The firm had revenue of $59.55 million during the quarter, compared to analysts' expectations of $54.60 million. Schrodinger had a negative return on equity of 44.74% and a negative net margin of 83.39%. The company's revenue for the quarter was up 62.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.86) earnings per share. As a group, research analysts predict that Schrodinger, Inc. will post -2.37 EPS for the current year.

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.