Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Schrodinger, Inc. $SDGR

Sumitomo Mitsui Trust Group Inc. lifted its position in Schrodinger, Inc. (NASDAQ:SDGR) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,649,950 shares of the company’s stock after buying an additional 187,535 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 4.97% of Schrodinger worth $73,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of Schrodinger by 29.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company’s stock valued at $58,000 after buying an additional 680 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Schrodinger by 347.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company’s stock valued at $26,000 after acquiring an additional 997 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Schrodinger by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,055 shares of the company’s stock valued at $653,000 after purchasing an additional 1,412 shares during the period. Bayforest Capital Ltd acquired a new stake in shares of Schrodinger in the 2nd quarter valued at about $30,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Schrodinger by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 511,395 shares of the company’s stock valued at $10,095,000 after purchasing an additional 1,715 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrodinger Trading Up 2.6%

SDGR stock opened at $22.52 on Monday. The stock has a 50-day moving average price of $19.84 and a two-hundred day moving average price of $21.47. Schrodinger, Inc. has a 12-month low of $16.60 and a 12-month high of $28.47. The company has a market cap of $1.66 billion, a PE ratio of -9.08 and a beta of 1.74.

Schrodinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, August 6th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.24. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.The company had revenue of $54.76 million during the quarter, compared to the consensus estimate of $52.03 million. During the same quarter in the prior year, the business earned ($0.66) earnings per share. The company’s revenue was up 15.7% compared to the same quarter last year. Equities analysts forecast that Schrodinger, Inc. will post -2.37 EPS for the current fiscal year.

Insider Buying and Selling at Schrodinger

In other news, insider Margaret Dugan sold 1,395 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $21.07, for a total value of $29,392.65. Following the completion of the sale, the insider owned 24,574 shares of the company’s stock, valued at $517,774.18. This represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays assumed coverage on Schrodinger in a research report on Thursday, August 14th. They set an “overweight” rating and a $25.00 price objective for the company. Wall Street Zen raised Schrodinger from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Schrodinger in a research note on Tuesday, October 14th. Morgan Stanley dropped their price target on Schrodinger from $28.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Finally, KeyCorp dropped their price target on Schrodinger from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.29.

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.