Schrodinger, Inc. $SDGR Stock: Sumitomo Mitsui Trust Group Inc. Decreases Holdings

Sumitomo Mitsui Trust Group Inc. lowered its stake in Schrodinger, Inc. (NASDAQ:SDGR) by 5.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,552,845 shares of the company’s stock after selling 153,298 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Schrodinger were worth $79,266,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SDGR. Root Financial Partners LLC bought a new position in shares of Schrodinger during the third quarter valued at $50,000. Sterling Capital Management LLC grew its position in shares of Schrodinger by 843.8% in the 3rd quarter. Sterling Capital Management LLC now owns 1,916 shares of the company’s stock valued at $59,000 after buying an additional 1,713 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Schrodinger in the second quarter valued at about $86,000. Integrated Wealth Concepts LLC bought a new position in Schrodinger during the 2nd quarter worth approximately $102,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Schrodinger in the 3rd quarter worth approximately $218,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Schrodinger

In other news, insider Karen Akinsanya sold 31,599 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $29.37, for a total value of $928,062.63. Following the transaction, the insider owned 69,956 shares in the company, valued at $2,054,607.72. This represents a 31.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SDGR. UBS Group upped their target price on Schrodinger from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 20th. KeyCorp boosted their price target on shares of Schrodinger from $20.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. BMO Capital Markets upped 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 raised shares of Schrodinger from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Finally, TD Cowen lifted their price objective on shares of Schrodinger from $20.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Schrodinger currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Schrodinger Stock Up 3.8%

NASDAQ SDGR opened at $27.18 on Wednesday. The company has a 50-day simple moving average of $25.26 and a two-hundred day simple moving average of $16.90. Schrodinger, Inc. has a 12-month low of $10.94 and a 12-month high of $33.78. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -36.73 and a beta of 1.69.

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

Schrodinger Company 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.