Goldman Sachs Group Inc. Sells 94,294 Shares of Simulations Plus, Inc. $SLP

Key Points

• Goldman Sachs Group Inc. significantly reduced its position in Simulations Plus, Inc. by 65.7% in the first quarter, now owning approximately 0.25% of the company worth $1.21 million.
• Despite reporting earnings of $0.45 per share, beating estimates, Simulations Plus experienced a revenue shortfall, leading to a stock drop of 15% following the earnings announcement.
• Institutional investors hold 78.08% of Simulations Plus stock, indicating strong interest in the company, with several hedge funds increasing their stakes significantly in Q1.

Goldman Sachs Group Inc. trimmed its position in Simulations Plus, Inc. (NASDAQ:SLP - Free Report) by 65.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,335 shares of the technology company's stock after selling 94,294 shares during the quarter. Goldman Sachs Group Inc. owned about 0.25% of Simulations Plus worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SLP. Fifth Third Bancorp raised its stake in Simulations Plus by 33.8% during the 1st quarter. Fifth Third Bancorp now owns 1,485 shares of the technology company's stock valued at $36,000 after purchasing an additional 375 shares during the last quarter. US Bancorp DE raised its stake in Simulations Plus by 15.6% during the 1st quarter. US Bancorp DE now owns 6,576 shares of the technology company's stock valued at $161,000 after purchasing an additional 889 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Simulations Plus during the 1st quarter valued at $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Simulations Plus by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,493 shares of the technology company's stock valued at $233,000 after purchasing an additional 390 shares during the last quarter. Finally, Savvy Advisors Inc. acquired a new position in Simulations Plus during the 1st quarter valued at $249,000. 78.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on SLP. KeyCorp cut shares of Simulations Plus from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, July 15th. Zacks Research upgraded shares of Simulations Plus to a "hold" rating in a research note on Tuesday, August 12th. William Blair restated an "outperform" rating on shares of Simulations Plus in a research note on Tuesday, July 15th. Craig Hallum dropped their price objective on shares of Simulations Plus from $45.00 to $36.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Finally, Stephens dropped their price objective on shares of Simulations Plus from $28.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $26.50.

Simulations Plus Price Performance

Shares of SLP traded down $0.22 during trading hours on Monday, hitting $15.03. The stock had a trading volume of 458,227 shares, compared to its average volume of 579,632. The company's fifty day moving average is $13.94 and its two-hundred day moving average is $22.05. Simulations Plus, Inc. has a 52 week low of $12.39 and a 52 week high of $37.67. The stock has a market capitalization of $302.55 million, a price-to-earnings ratio of -4.77 and a beta of 0.85.

Simulations Plus (NASDAQ:SLP - Get Free Report) last posted its earnings results on Monday, July 14th. The technology company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.19. Simulations Plus had a negative net margin of 78.63% and a positive return on equity of 11.62%. The business had revenue of $20.36 million for the quarter, compared to analyst estimates of $22.83 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts predict that Simulations Plus, Inc. will post 1.09 EPS for the current fiscal year.

Simulations Plus Company Profile

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.