Goldman Sachs Group Inc. Decreases Stock Position in 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. lowered its holdings in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 20.1% during the first quarter, according to its most recent disclosure 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 quarter. Goldman Sachs Group Inc. owned approximately 0.56% of Schrodinger worth $8,121,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Schrodinger by 169.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,357,532 shares of the company's stock worth $86,018,000 after purchasing an additional 2,737,728 shares in the last quarter. ARK Investment Management LLC boosted its position in Schrodinger by 3.9% during the first quarter. ARK Investment Management LLC now owns 2,294,519 shares of the company's stock worth $45,294,000 after purchasing an additional 85,761 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of Schrodinger by 22.5% during the first quarter. Stephens Investment Management Group LLC now owns 1,969,941 shares of the company's stock valued at $38,887,000 after acquiring an additional 362,285 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Schrodinger during the first quarter valued at approximately $19,787,000. Finally, Millennium Management LLC raised its holdings in shares of Schrodinger by 42.3% during the fourth quarter. Millennium Management LLC now owns 761,653 shares of the company's stock valued at $14,692,000 after acquiring an additional 226,536 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

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

Schrodinger Stock Performance

Shares of SDGR traded down $0.04 during midday trading on Friday, hitting $19.61. 300,935 shares of the stock were exchanged, compared to its average volume of 1,144,641. Schrodinger, Inc. has a 52-week low of $16.60 and a 52-week high of $28.47. The stock has a fifty day simple moving average of $20.03 and a 200 day simple moving average of $21.55. The firm has a market cap of $1.44 billion, a P/E ratio of -7.90 and a beta of 1.79.

Schrodinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.24. The business had revenue of $54.76 million during the quarter, compared to analyst estimates of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.The company's quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the business posted ($0.66) earnings per share. As a group, equities research analysts forecast 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.