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

Allspring Global Investments Holdings LLC trimmed its position in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 58.6% during the fourth quarter, according to its most recent disclosure 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 approximately 0.26% of Schrödinger worth $6,594,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in shares of Schrödinger by 3,480.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock valued at $64,000 after purchasing an additional 1,740 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Schrödinger by 5.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,519 shares of the company’s stock valued at $878,000 after purchasing an additional 1,278 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Schrödinger by 1,137.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 248,700 shares of the company’s stock worth $9,159,000 after acquiring an additional 228,600 shares during the period. ARK Investment Management LLC lifted its stake in shares of Schrödinger by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 3,053,521 shares of the company’s stock worth $109,316,000 after acquiring an additional 217,618 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Schrödinger in the fourth quarter worth approximately $281,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on SDGR shares. KeyCorp cut their price objective on Schrödinger from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. The Goldman Sachs Group cut their price objective on Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Bank of America cut their price objective on Schrödinger from $38.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Piper Sandler cut their price objective on Schrödinger from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Finally, Craig Hallum cut their price objective on Schrödinger from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.50.

Schrödinger Stock Performance

Shares of SDGR stock opened at $24.34 on Friday. The company has a market cap of $1.76 billion, a P/E ratio of 38.64 and a beta of 1.57. The stock has a 50 day simple moving average of $27.33 and a two-hundred day simple moving average of $28.40. Schrödinger, Inc. has a fifty-two week low of $20.76 and a fifty-two week high of $59.24.

Schrödinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm earned ($0.39) earnings per share. Schrödinger’s revenue for the quarter was up 30.5% on a year-over-year basis. On average, research analysts predict that Schrödinger, Inc. will post -2.73 earnings per share for the current year.

Insiders Place Their Bets

In other Schrödinger news, insider Robert Lorne Abel sold 1,205 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total transaction of $33,197.75. Following the transaction, the insider now owns 9,340 shares in the company, valued at $257,317. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction of $25,489.29. Following the transaction, the chief operating officer now owns 36,487 shares in the company, valued at $1,032,217.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Lorne Abel sold 1,205 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $27.55, for a total transaction of $33,197.75. Following the transaction, the insider now owns 9,340 shares in the company, valued at approximately $257,317. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,651 shares of company stock worth $102,395. Insiders own 7.60% of the company’s stock.

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.