Envestnet Asset Management Inc. Boosts Holdings in Schrödinger, Inc. (NASDAQ:SDGR)

Envestnet Asset Management Inc. lifted its position in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,754 shares of the company's stock after buying an additional 11,343 shares during the period. Envestnet Asset Management Inc. owned about 0.25% of Schrödinger worth $3,583,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Schrödinger by 60.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company's stock valued at $67,718,000 after purchasing an additional 1,319,464 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in Schrödinger by 108.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company's stock worth $47,499,000 after acquiring an additional 1,283,949 shares during the period. Massachusetts Financial Services Co. MA increased its position in Schrödinger by 17.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company's stock valued at $43,968,000 after purchasing an additional 334,131 shares during the period. Stephens Investment Management Group LLC increased its position in shares of Schrödinger by 4.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,607,656 shares of the company's stock valued at $31,012,000 after buying an additional 67,786 shares during the period. Finally, Geode Capital Management LLC raised its stake in Schrödinger by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,319,205 shares of the company's stock worth $24,476,000 after buying an additional 24,114 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

Schrödinger Stock Performance

Shares of NASDAQ:SDGR traded down $0.15 during trading on Wednesday, reaching $25.63. 703,589 shares of the stock traded hands, compared to its average volume of 840,173. The stock has a market cap of $1.87 billion, a P/E ratio of -10.95 and a beta of 1.77. The stock has a 50-day moving average of $22.23 and a two-hundred day moving average of $21.45. Schrödinger, Inc. has a 52-week low of $16.60 and a 52-week high of $28.47.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.20). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The business had revenue of $88.32 million during the quarter, compared to the consensus estimate of $83.20 million. Sell-side analysts expect that Schrödinger, Inc. will post -2.37 earnings per share for the current year.

Insider Transactions at Schrödinger

In other news, insider Karen Akinsanya sold 16,723 shares of the firm'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 transaction of $419,580.07. Following the transaction, the insider now directly owns 15,625 shares of the company's stock, valued at approximately $392,031.25. This trade 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 link. Also, CFO Geoffrey Craig Porges sold 5,491 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $21.76, for a total value of $119,484.16. Following the completion of the sale, the chief financial officer now owns 27,544 shares of the company's stock, valued at $599,357.44. The trade was a 16.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SDGR. Piper Sandler reduced their target price on Schrödinger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. KeyCorp boosted their target price on shares of Schrödinger from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Schrödinger currently has an average rating of "Buy" and an average price target of $33.00.

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.