Ameriprise Financial Inc. Has $2.67 Million Position in Schrödinger, Inc. (NASDAQ:SDGR)

Ameriprise Financial Inc. cut its position in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 74.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,205 shares of the company's stock after selling 402,212 shares during the period. Ameriprise Financial Inc. owned 0.19% of Schrödinger worth $2,666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SDGR. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Schrödinger by 60.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company's stock worth $67,718,000 after acquiring an additional 1,319,464 shares during the period. Nikko Asset Management Americas Inc. boosted its position in Schrödinger by 108.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company's stock worth $47,499,000 after purchasing an additional 1,283,949 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Schrödinger by 17.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company's stock valued at $43,968,000 after purchasing an additional 334,131 shares during the period. Stephens Investment Management Group LLC boosted its holdings in shares of Schrödinger by 4.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,607,656 shares of the company's stock worth $31,012,000 after buying an additional 67,786 shares during the period. Finally, Northern Trust Corp raised its holdings in Schrödinger by 11.3% in the 4th quarter. Northern Trust Corp now owns 602,618 shares of the company's stock valued at $11,625,000 after acquiring an additional 60,987 shares during the period. 79.05% of the stock is owned by institutional investors.

Schrödinger Trading Up 0.9%

NASDAQ SDGR traded up $0.19 during midday trading on Friday, hitting $21.63. The company had a trading volume of 720,833 shares, compared to its average volume of 868,724. The firm has a 50-day moving average price of $22.70 and a 200-day moving average price of $22.15. The company has a market capitalization of $1.59 billion, a PE ratio of -9.24 and a beta of 1.84. Schrödinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.82) EPS for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.01). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The company had revenue of $59.55 million during the quarter, compared to analyst estimates of $54.60 million. During the same period last year, the firm earned ($0.86) EPS. The firm's revenue for the quarter was up 62.7% compared to the same quarter last year. On average, equities analysts anticipate that Schrödinger, Inc. will post -2.37 EPS for the current year.

Insider Activity

In related news, CFO Geoffrey Craig Porges sold 5,491 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $21.76, for a total transaction of $119,484.16. Following the sale, the chief financial officer now owns 27,544 shares in the company, valued at approximately $599,357.44. This trade represents a 16.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karen Akinsanya sold 16,723 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $25.09, for a total value of $419,580.07. Following the sale, the insider now owns 15,625 shares of the company's stock, valued at $392,031.25. The trade was a 51.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Piper Sandler dropped their price target on Schrödinger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. KeyCorp upped their price target on shares of Schrödinger from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $32.80.

About Schrödinger

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.