Envestnet Asset Management Inc. Sells 40,529 Shares of Schrodinger, Inc. $SDGR

Envestnet Asset Management Inc. lowered its holdings in shares of Schrodinger, Inc. (NASDAQ:SDGR) by 19.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,105 shares of the company’s stock after selling 40,529 shares during the period. Envestnet Asset Management Inc. owned approximately 0.23% of Schrodinger worth $3,423,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SDGR. Farther Finance Advisors LLC boosted its holdings in shares of Schrodinger by 347.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company’s stock worth $26,000 after buying an additional 997 shares in the last quarter. Bayforest Capital Ltd bought a new position in Schrodinger during the second quarter worth $30,000. ANTIPODES PARTNERS Ltd bought a new position in Schrodinger during the first quarter worth $37,000. PNC Financial Services Group Inc. grew its holdings in Schrodinger by 29.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company’s stock worth $58,000 after purchasing an additional 680 shares during the period. Finally, Federated Hermes Inc. increased its stake in Schrodinger by 100.0% in the first quarter. Federated Hermes Inc. now owns 10,000 shares of the company’s stock valued at $197,000 after purchasing an additional 5,000 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

Insider Transactions at Schrodinger

In other news, insider Margaret Dugan sold 1,395 shares of the company’s stock in a transaction on Thursday, October 16th. The shares were 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 in the company, valued at $517,774.18. This represents a 5.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SDGR. Barclays initiated coverage on shares of Schrodinger in a research report on Thursday, August 14th. They set an “overweight” rating and a $25.00 price objective on the stock. Wall Street Zen raised Schrodinger from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. KeyCorp cut their price target on Schrodinger from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. The Goldman Sachs Group started coverage on Schrodinger in a research note on Monday, September 29th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Schrodinger in a research report on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.00.

Schrodinger Stock Up 2.6%

Shares of Schrodinger stock opened at $17.64 on Friday. The company has a market cap of $1.30 billion, a PE ratio of -7.32 and a beta of 1.77. Schrodinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47. The business has a 50 day moving average price of $19.83 and a 200-day moving average price of $20.91.

Schrodinger (NASDAQ:SDGR) last announced its earnings results on Wednesday, November 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.27. Schrodinger had a negative return on equity of 48.24% and a negative net margin of 68.49%.The company had revenue of $54.32 million for the quarter, compared to analysts’ expectations of $50.51 million. During the same quarter in the previous year, the firm earned ($0.87) earnings per share. Schrodinger’s quarterly revenue was up 53.9% on a year-over-year basis. Schrodinger has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Schrodinger, Inc. will post -2.37 EPS for the current year.

About Schrodinger

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.