Principal Financial Group Inc. Lowers Stake in Schrödinger, Inc. (NASDAQ:SDGR)

Principal Financial Group Inc. trimmed its position in Schrödinger, Inc. (NASDAQ:SDGR) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,311 shares of the company’s stock after selling 12,358 shares during the quarter. Principal Financial Group Inc. owned 0.36% of Schrödinger worth $4,866,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV increased its position in Schrödinger by 45.4% during the 3rd quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after purchasing an additional 783 shares in the last quarter. Quarry LP increased its position in shares of Schrödinger by 1,150.0% in the third quarter. Quarry LP now owns 2,825 shares of the company’s stock worth $52,000 after acquiring an additional 2,599 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Schrödinger in the 2nd quarter valued at $66,000. Quest Partners LLC lifted its holdings in shares of Schrödinger by 1,005.6% during the 2nd quarter. Quest Partners LLC now owns 4,555 shares of the company’s stock valued at $88,000 after acquiring an additional 4,143 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Schrödinger during the 3rd quarter worth $102,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the sale, the insider now owns 13,469 shares in the company, valued at $239,478.82. This represents a 10.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 8.60% of the company’s stock.

Schrödinger Price Performance

Shares of Schrödinger stock opened at $20.40 on Friday. Schrödinger, Inc. has a 1-year low of $16.67 and a 1-year high of $33.96. The company has a market capitalization of $1.49 billion, a PE ratio of -8.72 and a beta of 1.56. The business has a 50-day moving average of $20.13 and a 200-day moving average of $19.95.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The business had revenue of $35.30 million for the quarter, compared to analyst estimates of $41.25 million. During the same quarter last year, the business earned ($0.86) EPS. Schrödinger’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, equities analysts expect that Schrödinger, Inc. will post -2.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets raised their price objective on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schrödinger currently has a consensus rating of “Moderate Buy” and an average price target of $32.90.

Schrödinger 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.