Goldman Sachs Group Inc. Sells 103,348 Shares of Schrodinger, Inc. $SDGR

Key Points

• Goldman Sachs Group Inc. reduced its stake in Schrodinger, Inc. by 20.1%, selling 103,348 shares in the process, and now owns approximately 0.56% of the company.
• Multiple hedge funds, including UBS AM and ARK Investment Management, have increased their holdings in Schrodinger, with UBS AM's position rising by 169.0%.
• Schrodinger shares are currently trading at $18.57, with a twelve-month high of $28.47 and a consensus price target of $27.83, despite recent analyst downgrades.

Goldman Sachs Group Inc. cut its holdings in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 411,397 shares of the company's stock after selling 103,348 shares during the period. Goldman Sachs Group Inc. owned approximately 0.56% of Schrodinger worth $8,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Schrodinger by 169.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,357,532 shares of the company's stock valued at $86,018,000 after buying an additional 2,737,728 shares in the last quarter. ARK Investment Management LLC increased its position in Schrodinger by 3.9% in the 1st quarter. ARK Investment Management LLC now owns 2,294,519 shares of the company's stock valued at $45,294,000 after buying an additional 85,761 shares in the last quarter. Stephens Investment Management Group LLC increased its position in Schrodinger by 22.5% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,969,941 shares of the company's stock valued at $38,887,000 after buying an additional 362,285 shares in the last quarter. American Century Companies Inc. bought a new stake in Schrodinger in the 1st quarter valued at about $19,787,000. Finally, Millennium Management LLC increased its position in Schrodinger by 42.3% in the 4th quarter. Millennium Management LLC now owns 761,653 shares of the company's stock valued at $14,692,000 after buying an additional 226,536 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on SDGR. Morgan Stanley decreased their target price on Schrodinger from $28.00 to $19.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Barclays assumed coverage on Schrodinger in a research report on Thursday, August 14th. They issued an "overweight" rating and a $25.00 target price for the company. Citigroup downgraded Schrodinger from a "buy" rating to a "neutral" rating and cut their price target for the company from $35.00 to $20.00 in a research note on Friday, August 15th. Wall Street Zen downgraded Schrodinger from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Finally, KeyCorp cut their price target on Schrodinger from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, July 14th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.83.

Schrodinger Stock Down 1.1%

Shares of NASDAQ SDGR opened at $18.57 on Friday. Schrodinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47. The stock's 50 day moving average price is $20.22 and its 200-day moving average price is $21.62. The company has a market capitalization of $1.37 billion, a PE ratio of -7.49 and a beta of 1.79.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.59) earnings per share for the quarter, topping analysts' consensus estimates of ($0.83) by $0.24. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.The firm had revenue of $54.76 million for the quarter, compared to the consensus estimate of $52.03 million. During the same quarter in the previous year, the business earned ($0.66) EPS. The company's revenue was up 15.7% compared to the same quarter last year. As a group, research analysts expect that Schrodinger, Inc. will post -2.37 EPS for the current fiscal year.

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.

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