Sumitomo Mitsui Trust Holdings Inc. Has $82.37 Million Holdings in Schrödinger, Inc. (NASDAQ:SDGR)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Schrödinger, Inc. (NASDAQ:SDGR) by 60.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,300,750 shares of the company’s stock after acquiring an additional 865,867 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Schrödinger were worth $82,367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. ARK Investment Management LLC raised its position in Schrödinger by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 3,053,521 shares of the company’s stock worth $109,316,000 after purchasing an additional 217,618 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in Schrödinger in the 3rd quarter worth approximately $905,000. TrueMark Investments LLC bought a new position in Schrödinger in the 4th quarter worth approximately $1,469,000. Avidity Partners Management LP raised its position in Schrödinger by 45.1% in the 3rd quarter. Avidity Partners Management LP now owns 399,000 shares of the company’s stock worth $11,280,000 after purchasing an additional 124,100 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its position in Schrödinger by 75.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 150,514 shares of the company’s stock worth $4,255,000 after purchasing an additional 64,489 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Robert Lorne Abel sold 1,205 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the completion of the transaction, the insider now directly owns 9,340 shares of the company’s stock, valued at approximately $257,317. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Robert Lorne Abel sold 1,205 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $27.55, for a total transaction of $33,197.75. Following the completion of the transaction, the insider now directly owns 9,340 shares in the company, valued at approximately $257,317. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Kenneth Patrick Lorton sold 901 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.29, for a total transaction of $25,489.29. Following the transaction, the chief operating officer now owns 36,487 shares of the company’s stock, valued at $1,032,217.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,651 shares of company stock valued at $102,395. Company insiders own 7.60% of the company’s stock.

Schrödinger Stock Up 1.1 %

Shares of SDGR stock opened at $25.04 on Thursday. Schrödinger, Inc. has a 12-month low of $20.76 and a 12-month high of $59.24. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 39.75 and a beta of 1.57. The firm has a fifty day moving average of $27.39 and a 200-day moving average of $28.42.

Schrödinger (NASDAQ:SDGR) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.12. The company had revenue of $74.10 million during the quarter, compared to analyst estimates of $79.12 million. Schrödinger had a net margin of 18.79% and a negative return on equity of 23.58%. The firm’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.39) EPS. Research analysts expect that Schrödinger, Inc. will post -2.73 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of Schrödinger in a research report on Friday, January 26th. They issued an “outperform” rating and a $42.00 price objective for the company. Piper Sandler dropped their price objective on shares of Schrödinger from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Bank of America dropped their target price on shares of Schrödinger from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. KeyCorp dropped their target price on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group dropped their target price on shares of Schrödinger from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.50.

About Schrödinger

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.