Nikko Asset Management Americas Inc. Has $47.66 Million Position in Schrodinger, Inc. (NASDAQ:SDGR)

Key Points

• Nikko Asset Management Americas Inc. sold 48,103 shares of Schrodinger, reducing its position by 2.0% in the first quarter, now owning approximately 3.31% of the company.
• Schrodinger reported a loss of $0.82 per share for the last quarter, missing analysts' expectations, though revenue increased by 62.7% year-over-year.
• Institutional investors and hedge funds control 79.05% of Schrodinger's stock, indicating significant institutional interest in the company.

Nikko Asset Management Americas Inc. trimmed its stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 2.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,416,808 shares of the company's stock after selling 48,103 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 3.31% of Schrodinger worth $47,659,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in Schrodinger by 17.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company's stock worth $43,968,000 after acquiring an additional 334,131 shares during the period. Stephens Investment Management Group LLC lifted its holdings in shares of Schrodinger by 22.5% during 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 during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Schrodinger by 3.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,700,909 shares of the company's stock valued at $32,810,000 after buying an additional 58,541 shares during the last quarter. Millennium Management LLC lifted its holdings in Schrodinger by 42.3% in the 4th quarter. Millennium Management LLC now owns 761,653 shares of the company's stock worth $14,692,000 after purchasing an additional 226,536 shares during the last quarter. Finally, Prosight Management LP lifted its holdings in shares of Schrodinger by 2.9% during the fourth quarter. Prosight Management LP now owns 720,500 shares of the company's stock worth $13,898,000 after buying an additional 20,500 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SDGR. Morgan Stanley assumed coverage on Schrodinger in a research report on Thursday, July 3rd. They set an "equal weight" rating and a $28.00 price objective on the stock. KeyCorp cut their price target on Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th.

Schrodinger Trading Up 0.7%

Shares of NASDAQ SDGR traded up $0.16 during mid-day trading on Monday, reaching $22.39. 881,957 shares of the company's stock were exchanged, compared to its average volume of 977,269. Schrodinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47. The business has a fifty day simple moving average of $21.81 and a 200 day simple moving average of $22.54.

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

About Schrodinger

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.