Schrodinger, Inc. (NASDAQ:SDGR) Stake Reduced by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in Schrodinger, Inc. by 5.7%, owning 994,819 shares after selling 59,584 shares, which represents 1.36% of the company's stock valued at approximately $19.6 million.
• Several institutional investors, including Proficio Capital Partners and Raymond James Financial, have recently adjusted their holdings in Schrodinger, with 79.05% of the stock currently owned by institutional investors.
• Schrodinger reported quarterly earnings of ($0.82) per share, missing analyst expectations, despite a revenue increase of 62.7% year-over-year, totaling $59.55 million.

Baillie Gifford & Co. lowered its stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 5.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 994,819 shares of the company's stock after selling 59,584 shares during the quarter. Baillie Gifford & Co. owned about 1.36% of Schrodinger worth $19,638,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Greenwood Capital Associates LLC increased its stake in shares of Schrodinger by 2.7% during the first quarter. Greenwood Capital Associates LLC now owns 23,139 shares of the company's stock worth $457,000 after buying an additional 612 shares during the period. United Advisor Group LLC grew 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. grew its position in shares of Schrodinger by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company's stock worth $610,000 after acquiring an additional 1,202 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Schrodinger during the fourth quarter worth approximately $27,000. Finally, Swiss National Bank lifted its holdings in shares of Schrodinger by 1.2% during the fourth quarter. Swiss National Bank now owns 125,100 shares of the company's stock worth $2,413,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 79.05% of the company's stock.

Schrodinger Stock Down 0.1%

Shares of NASDAQ SDGR traded down $0.02 during midday trading on Wednesday, hitting $21.15. The stock had a trading volume of 152,837 shares, compared to its average volume of 1,124,014. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -8.04 and a beta of 1.58. Schrodinger, Inc. has a 1-year low of $16.60 and a 1-year high of $28.47. The company has a fifty day moving average price of $21.80 and a 200 day moving average price of $22.53.

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

Wall Street Analysts Forecast Growth

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

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.