Schrodinger, Inc. $SDGR Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Schrodinger, Inc. (NASDAQ:SDGR) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,552,845 shares of the company’s stock after selling 153,298 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 3.46% of Schrodinger worth $79,266,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Root Financial Partners LLC purchased a new position in Schrodinger during the 3rd quarter valued at about $50,000. Sterling Capital Management LLC boosted its stake in shares of Schrodinger by 843.8% during the 3rd quarter. Sterling Capital Management LLC now owns 1,916 shares of the company’s stock worth $59,000 after acquiring an additional 1,713 shares in the last quarter. Allworth Financial LP purchased a new position in Schrodinger in the 2nd quarter valued at about $86,000. PNC Financial Services Group Inc. lifted its stake in Schrodinger by 1,037.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,778 shares of the company’s stock worth $88,000 after purchasing an additional 7,094 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Schrodinger in the 2nd quarter valued at about $102,000. Institutional investors own 79.05% of the company’s stock.

Schrodinger Price Performance

NASDAQ SDGR opened at $27.18 on Wednesday. Schrodinger, Inc. has a 12 month low of $10.94 and a 12 month high of $33.78. The company’s 50 day simple moving average is $25.26 and its 200 day simple moving average is $16.90. The firm has a market capitalization of $2.01 billion, a PE ratio of -36.73 and a beta of 1.69.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.49. The firm had revenue of $58.89 million during the quarter, compared to the consensus estimate of $47.19 million. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.65) EPS. Sell-side analysts anticipate that Schrodinger, Inc. will post -1.50 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on SDGR shares. TD Cowen boosted their price target on shares of Schrodinger from $20.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, October 13th. BMO Capital Markets raised their price objective on shares of Schrodinger from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, October 12th. Zacks Research upgraded shares of Schrodinger from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Weiss Ratings upgraded Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. Finally, KeyCorp boosted their price objective on shares of Schrodinger from $20.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.83.

Insiders Place Their Bets

In related news, insider Karen Akinsanya sold 31,599 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $29.37, for a total transaction of $928,062.63. Following the completion of the transaction, the insider owned 69,956 shares in the company, valued at $2,054,607.72. This trade represents a 31.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.10% of the stock is owned by corporate insiders.

Schrodinger Profile

Schrödinger, Inc develops computational software and services designed to support pharmaceutical, biotechnology and materials research. Its platform uses physics-based modeling, machine learning and other computational methods to help scientists analyze molecular interactions, design compounds and prioritize candidates for experimental testing.

The company’s software offerings include tools for molecular modeling, quantum chemistry, molecular dynamics, virtual screening, property prediction and free-energy calculations.