Massachusetts Financial Services Co. MA Acquires 334,131 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

Massachusetts Financial Services Co. MA grew its position in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,279,313 shares of the company's stock after acquiring an additional 334,131 shares during the period. Massachusetts Financial Services Co. MA owned about 3.13% of Schrödinger worth $43,968,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Schrödinger by 60.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company's stock worth $67,718,000 after acquiring an additional 1,319,464 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Schrödinger by 108.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company's stock valued at $47,499,000 after purchasing an additional 1,283,949 shares during the last quarter. Barclays PLC raised its position in shares of Schrödinger by 421.6% in the third quarter. Barclays PLC now owns 107,554 shares of the company's stock valued at $1,995,000 after purchasing an additional 86,933 shares during the period. Norges Bank bought a new stake in shares of Schrödinger during the 4th quarter worth about $1,546,000. Finally, Monaco Asset Management SAM acquired a new position in Schrödinger in the 4th quarter valued at about $1,543,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on SDGR shares. KeyCorp upped their price objective on Schrödinger from $25.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Piper Sandler decreased their price target on shares of Schrödinger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $32.29.

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Schrödinger Price Performance

SDGR traded down $1.79 during trading on Thursday, hitting $17.74. 262,834 shares of the stock traded hands, compared to its average volume of 774,895. The business has a 50 day moving average price of $22.10 and a 200 day moving average price of $20.70. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -7.62 and a beta of 1.77. Schrödinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47.

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

Insiders Place Their Bets

In related news, CFO Geoffrey Craig Porges sold 5,491 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $21.76, for a total transaction of $119,484.16. Following the sale, the chief financial officer now owns 27,544 shares in the company, valued at $599,357.44. The trade was a 16.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 8.60% of the company's stock.

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.