Northern Trust Corp Boosts Stock Position in Schrödinger, Inc. (NASDAQ:SDGR)

Northern Trust Corp raised its position in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 602,618 shares of the company's stock after purchasing an additional 60,987 shares during the period. Northern Trust Corp owned 0.83% of Schrödinger worth $11,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Avanza Fonder AB bought a new stake in Schrödinger during the fourth quarter worth about $577,000. Barclays PLC boosted its position in shares of Schrödinger by 421.6% during the third quarter. Barclays PLC now owns 107,554 shares of the company's stock worth $1,995,000 after acquiring an additional 86,933 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Schrödinger during the fourth quarter worth $325,000. Sumitomo Mitsui Trust Group Inc. lifted its position in 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 last quarter. Finally, Amundi lifted its holdings in shares of Schrödinger by 197.7% in the 4th quarter. Amundi now owns 26,753 shares of the company's stock worth $544,000 after acquiring an additional 17,766 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SDGR shares. Piper Sandler lowered their price target on shares of 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 price target on shares of Schrödinger from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $32.80.

Insider Activity

In other Schrödinger news, insider Karen Akinsanya sold 16,723 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $25.09, for a total transaction of $419,580.07. Following the transaction, the insider now owns 15,625 shares in the company, valued at $392,031.25. This trade represents a 51.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Geoffrey Craig Porges sold 5,491 shares of the firm's stock in a transaction 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 sale, the chief financial officer now directly owns 27,544 shares in the company, valued at approximately $599,357.44. This trade represents a 16.62% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.60% of the company's stock.

Schrödinger Trading Up 3.5%

SDGR traded up $0.71 during trading on Thursday, reaching $21.22. 1,021,922 shares of the company were exchanged, compared to its average volume of 862,211. Schrödinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47. The stock has a market cap of $1.55 billion, a P/E ratio of -9.07 and a beta of 1.84. The firm has a 50 day moving average of $22.80 and a 200 day moving average of $22.07.

Schrödinger (NASDAQ:SDGR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.01). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. 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) earnings per share. The business's revenue for the quarter was up 62.7% on a year-over-year basis. As a group, analysts forecast that Schrödinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Schrödinger 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.