Envestnet Asset Management Inc. Raises Stake in Schrodinger, Inc. (NASDAQ:SDGR)

Key Points

• Envestnet Asset Management Inc. has increased its stake in Schrodinger, Inc. by 13.4%, now owning approximately 0.29% of the company worth $4.16 million.
• Several institutional investors have recently made significant changes to their positions in Schrodinger, with hedge funds and other institutions owning 79.05% of the stock.
• Schrodinger reported a revenue of $59.55 million for the last quarter, surpassing analysts' expectations and reflecting a year-over-year growth of 62.7%.

Envestnet Asset Management Inc. increased its holdings in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 13.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,634 shares of the company's stock after acquiring an additional 24,880 shares during the period. Envestnet Asset Management Inc. owned approximately 0.29% of Schrodinger worth $4,158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SDGR. Greenwood Capital Associates LLC increased its holdings in Schrodinger by 2.7% during the first 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. United Advisor Group LLC boosted its position in shares of Schrodinger by 3.3% during the fourth quarter. United Advisor Group LLC now owns 19,769 shares of the company's stock worth $381,000 after acquiring an additional 634 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Schrodinger by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company's stock valued at $610,000 after purchasing an additional 1,202 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Schrodinger during the fourth quarter valued at $27,000. Finally, Swiss National Bank lifted its position in Schrodinger by 1.2% during the fourth quarter. Swiss National Bank now owns 125,100 shares of the company's stock valued at $2,413,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Schrodinger Stock Performance

Shares of SDGR traded down $0.65 during trading hours on Tuesday, hitting $21.74. The stock had a trading volume of 133,884 shares, compared to its average volume of 1,125,055. The firm has a 50-day moving average price of $21.81 and a 200 day moving average price of $22.54. Schrodinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -8.27 and a beta of 1.58.

Schrodinger (NASDAQ:SDGR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.01). Schrodinger had a negative return on equity of 44.74% and a negative net margin of 83.39%. The business had revenue of $59.55 million for the quarter, compared to analysts' expectations of $54.60 million. During the same period in the previous year, the company earned ($0.86) EPS. Schrodinger's quarterly revenue was up 62.7% compared to the same quarter last year. As a group, analysts predict that Schrodinger, Inc. will post -2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley started coverage on shares of Schrodinger in a report on Thursday, July 3rd. They issued an "equal weight" rating and a $28.00 target price for the company. KeyCorp cut their target price on shares of Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th.

Schrodinger 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.