Allspring Global Investments Holdings LLC Has $6.59 Million Stake in Schrödinger, Inc. (NASDAQ:SDGR)

Allspring Global Investments Holdings LLC lessened its holdings in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 58.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 owned 0.26% of Schrödinger worth $6,594,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in Schrödinger by 3,480.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,790 shares of the company's stock valued at $64,000 after buying an additional 1,740 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Schrödinger by 5.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,519 shares of the company's stock valued at $878,000 after buying an additional 1,278 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Schrödinger by 1,137.3% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 248,700 shares of the company's stock valued at $9,159,000 after buying an additional 228,600 shares during the last quarter. ARK Investment Management LLC grew its holdings in Schrödinger by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 3,053,521 shares of the company's stock valued at $109,316,000 after buying an additional 217,618 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Schrödinger during the 4th quarter valued at $281,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Schrödinger Stock Performance

Shares of SDGR traded down $0.05 during trading hours on Friday, hitting $24.29. The stock had a trading volume of 620,364 shares, compared to its average volume of 859,640. The company's fifty day simple moving average is $27.26 and its 200 day simple moving average is $28.37. Schrödinger, Inc. has a 12-month low of $20.76 and a 12-month high of $59.24. The firm has a market cap of $1.76 billion, a P/E ratio of 38.56 and a beta of 1.57.

Schrödinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.12. Schrödinger had a negative return on equity of 23.58% and a net margin of 18.79%. The company had revenue of $74.10 million for the quarter, compared to analyst estimates of $79.12 million. During the same period last year, the company posted ($0.39) earnings per share. The firm's revenue was up 30.5% compared to the same quarter last year. As a group, sell-side analysts predict that Schrödinger, Inc. will post -2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on SDGR shares. Citigroup lowered their target price on Schrödinger from $47.00 to $39.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. Bank of America reduced their price target on Schrödinger from $38.00 to $32.00 and set a "neutral" rating on the stock in a research note on Thursday, February 29th. Craig Hallum reduced their price target on Schrödinger from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday, January 19th. TD Cowen initiated coverage on Schrödinger in a research report on Friday, January 26th. They issued an "outperform" rating and a $42.00 target price on the stock. Finally, Piper Sandler cut their target price on Schrödinger from $60.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.50.

Insider Buying and Selling at Schrödinger

In other Schrödinger news, insider Robert Lorne Abel sold 1,205 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $27.55, for a total value of $33,197.75. Following the transaction, the insider now directly owns 9,340 shares of the company's stock, valued at $257,317. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Kenneth Patrick Lorton sold 901 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.29, for a total transaction of $25,489.29. Following the completion of the sale, the chief operating officer now directly owns 36,487 shares in the company, valued at $1,032,217.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Lorne Abel sold 1,205 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $257,317. The disclosure for this sale can be found here. Insiders have sold 3,651 shares of company stock valued at $102,395 over the last three months. 7.60% of the stock is owned by company insiders.

Schrödinger 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.