Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in Schrodinger, Inc. (NASDAQ:SDGR)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,462,415 shares of the company's stock after selling 48,103 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 4.74% of Schrodinger worth $68,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in shares of Schrodinger during the fourth quarter valued at approximately $27,000. GAMMA Investing LLC boosted its position in shares of Schrodinger by 118.5% during the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock worth $121,000 after buying an additional 3,313 shares during the period. XTX Topco Ltd acquired a new position in Schrodinger during the fourth quarter worth $199,000. Bayesian Capital Management LP bought a new stake in Schrodinger during the fourth quarter worth about $199,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Schrodinger in the fourth quarter valued at $218,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, KeyCorp increased their price objective on shares of Schrodinger from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Schrodinger presently has a consensus rating of "Buy" and a consensus price target of $32.80.

Schrodinger Stock Up 1.7%

Shares of SDGR stock traded up $0.35 during trading hours on Wednesday, reaching $20.96. The company's stock had a trading volume of 830,902 shares, compared to its average volume of 913,100. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -7.97 and a beta of 1.58. The firm's 50 day simple moving average is $22.96 and its 200-day simple moving average is $22.32. Schrodinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47.

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

Insiders Place Their Bets

In other Schrodinger news, insider Karen Akinsanya sold 16,723 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $25.09, for a total transaction of $419,580.07. Following the sale, the insider owned 15,625 shares of the company's stock, valued at approximately $392,031.25. This represents a 51.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company's stock.

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.