Nikko Asset Management Americas Inc. Increases Stake in Schrödinger, Inc. (NASDAQ:SDGR)

Nikko Asset Management Americas Inc. lifted its position in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 108.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,464,911 shares of the company's stock after buying an additional 1,283,949 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 3.38% of Schrödinger worth $47,499,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SDGR. Sumitomo Mitsui Trust Group Inc. boosted its position in Schrödinger by 60.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company's stock valued at $67,718,000 after buying an additional 1,319,464 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Schrödinger by 58.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company's stock valued at $36,083,000 after acquiring an additional 717,059 shares in the last quarter. Rubric Capital Management LP boosted its holdings in Schrödinger by 17.7% in the third quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company's stock valued at $68,366,000 after purchasing an additional 555,503 shares during the period. Barclays PLC grew its stake in Schrödinger by 421.6% during the 3rd quarter. Barclays PLC now owns 107,554 shares of the company's stock worth $1,995,000 after purchasing an additional 86,933 shares in the last quarter. Finally, Monaco Asset Management SAM purchased a new stake in Schrödinger during the 4th quarter worth about $1,543,000. Institutional investors and hedge funds own 79.05% of the company's stock.

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Insider Activity

In other news, CFO Geoffrey Craig Porges sold 5,491 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $21.76, for a total transaction of $119,484.16. Following the completion of the sale, the chief financial officer now owns 27,544 shares in the company, valued at approximately $599,357.44. This represents a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.60% of the company's stock.

Schrödinger Stock Performance

SDGR stock traded down $0.48 during midday trading on Friday, reaching $21.80. 1,485,705 shares of the company were exchanged, compared to its average volume of 747,464. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -9.32 and a beta of 1.62. Schrödinger, Inc. has a 1-year low of $16.67 and a 1-year high of $29.15. The stock's 50-day simple moving average is $22.87 and its 200 day simple moving average is $20.76.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.20). The firm had revenue of $88.32 million for the quarter, compared to analyst estimates of $83.20 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. On average, research analysts anticipate that Schrödinger, Inc. will post -2.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

SDGR has been the subject of several recent research reports. KeyCorp lifted their price objective on Schrödinger from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Piper Sandler reduced their target price 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $32.29.

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.