Sumitomo Mitsui Trust Holdings Inc. Acquires 865,867 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 60.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,300,750 shares of the company's stock after buying an additional 865,867 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 3.19% of Schrödinger worth $82,367,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Arete Wealth Advisors LLC acquired a new position in shares of Schrödinger in the first quarter valued at $25,000. Creative Planning bought a new stake in Schrödinger during the third quarter worth about $27,000. Spire Wealth Management lifted its position in Schrödinger by 66.7% during the third quarter. Spire Wealth Management now owns 1,000 shares of the company's stock worth $28,000 after purchasing an additional 400 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Schrödinger by 1,676.0% in the second quarter. PNC Financial Services Group Inc. now owns 888 shares of the company's stock worth $44,000 after acquiring an additional 838 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Schrödinger by 260.0% in the third quarter. National Bank of Canada FI now owns 1,800 shares of the company's stock worth $49,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Insider Activity

In other news, COO Kenneth Patrick Lorton sold 901 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the sale, the chief operating officer now owns 36,487 shares in the company, valued at $1,032,217.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $28.29, for a total transaction of $25,489.29. Following the transaction, the chief operating officer now owns 36,487 shares in the company, valued at $1,032,217.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Lorne Abel sold 1,205 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $27.55, for a total value of $33,197.75. Following the transaction, the insider now owns 9,340 shares in the company, valued at approximately $257,317. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,651 shares of company stock valued at $102,395. Company insiders own 7.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SDGR shares. Piper Sandler decreased their target price on shares of Schrödinger from $60.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, February 29th. Craig Hallum dropped their price objective on Schrödinger from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday, January 19th. Bank of America decreased their target price on Schrödinger from $38.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday, February 29th. TD Cowen assumed coverage on Schrödinger in a report on Friday, January 26th. They set an "outperform" rating and a $42.00 target price for the company. Finally, The Goldman Sachs Group dropped their target price on Schrödinger from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.50.

Schrödinger Price Performance

Shares of Schrödinger stock traded down $0.70 on Thursday, reaching $24.34. The company had a trading volume of 672,261 shares, compared to its average volume of 862,836. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 38.64 and a beta of 1.57. The firm's 50-day moving average price is $27.33 and its two-hundred day moving average price is $28.40. Schrödinger, Inc. has a 1 year low of $20.76 and a 1 year high of $59.24.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.12. Schrödinger had a negative return on equity of 23.58% and a net margin of 18.79%. The company had revenue of $74.10 million during the quarter, compared to analysts' expectations of $79.12 million. During the same quarter in the previous year, the business earned ($0.39) EPS. Schrödinger's revenue was up 30.5% compared to the same quarter last year. As a group, analysts anticipate that Schrödinger, Inc. will post -2.73 EPS for the current year.

Schrödinger 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.