Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in Schrodinger, Inc. (NASDAQ:SDGR)

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

Several other institutional investors have also recently made changes to their positions in SDGR. Nikko Asset Management Americas Inc. boosted its holdings in Schrodinger by 108.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company's stock worth $47,499,000 after purchasing an additional 1,283,949 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Schrodinger by 17.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company's stock worth $43,968,000 after buying an additional 334,131 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Schrodinger by 42.3% in 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 in the last quarter. GAMMA Investing LLC grew its holdings in shares of Schrodinger by 4,213.0% in the first quarter. GAMMA Investing LLC now owns 120,592 shares of the company's stock valued at $2,380,000 after acquiring an additional 117,796 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Schrodinger during the fourth quarter valued at approximately $1,939,000. Institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SDGR. KeyCorp upped their price objective on Schrodinger from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Morgan Stanley initiated coverage on shares of Schrodinger in a report on Thursday. They issued an "equal weight" rating and a $28.00 price target on the stock.

Insider Buying and Selling at Schrodinger

In other news, insider Karen Akinsanya sold 16,723 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $25.09, for a total value of $419,580.07. Following the sale, the insider owned 15,625 shares of the company's stock, valued at $392,031.25. The trade was a 51.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is owned by insiders.

Schrodinger Stock Performance

Schrodinger stock remained flat at $20.96 during trading on Friday. The company had a trading volume of 348,387 shares, compared to its average volume of 912,877. The company's 50-day moving average price is $22.66 and its 200 day moving average price is $22.30. Schrodinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47. The firm has a market cap of $1.54 billion, a PE ratio of -7.97 and a beta of 1.58.

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 the consensus estimate of ($0.81) by ($0.01). The firm had revenue of $59.55 million during the quarter, compared to the consensus estimate of $54.60 million. Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. The business's quarterly revenue was up 62.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.86) earnings per share. On average, sell-side analysts predict that Schrodinger, Inc. will post -2.37 EPS for the current fiscal year.

Schrodinger 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.