Schrodinger, Inc. (NASDAQ:SDGR) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 30.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,371 shares of the company's stock after purchasing an additional 40,568 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.24% of Schrodinger worth $3,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SDGR. Palumbo Wealth Management LLC purchased a new position in shares of Schrodinger in the 1st quarter valued at $345,000. Stanley Laman Group Ltd. grew its position in shares of Schrodinger by 17.3% in the 1st quarter. Stanley Laman Group Ltd. now owns 186,980 shares of the company's stock valued at $3,691,000 after buying an additional 27,511 shares during the last quarter. Greenwood Capital Associates LLC grew its position in shares of Schrodinger by 2.7% in the 1st quarter. Greenwood Capital Associates LLC now owns 23,139 shares of the company's stock valued at $457,000 after buying an additional 612 shares during the last quarter. 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 valued at $121,000 after buying an additional 3,313 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Schrodinger by 32.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 15,005 shares of the company's stock valued at $296,000 after buying an additional 3,676 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Schrodinger Stock Up 0.1%

SDGR stock traded up $0.02 during trading on Thursday, hitting $21.71. The company had a trading volume of 750,168 shares, compared to its average volume of 918,090. The firm has a market cap of $1.59 billion, a PE ratio of -8.25 and a beta of 1.58. Schrodinger, Inc. has a 1-year low of $16.60 and a 1-year high of $28.47. The firm has a 50-day moving average price of $22.39 and a 200-day moving average price of $22.34.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its quarterly 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 company had revenue of $59.55 million during the quarter, compared to analyst estimates of $54.60 million. Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. The business's revenue was up 62.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.86) EPS. Sell-side analysts anticipate that Schrodinger, Inc. will post -2.37 earnings per share for the current year.

Insider Transactions at Schrodinger

In other Schrodinger news, insider Karen Akinsanya sold 16,723 shares of the business's stock in a transaction that occurred on 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 owned 15,625 shares in the company, valued at approximately $392,031.25. The trade was a 51.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on SDGR. Morgan Stanley initiated coverage on shares of Schrodinger in a research report on Thursday, July 3rd. They issued an "equal weight" rating and a $28.00 target price on the stock. KeyCorp raised their price target on Schrodinger from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th.

About Schrodinger

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.