Raymond James Financial Services Advisors Inc. Takes $281,000 Position in Schrödinger, Inc. (NASDAQ:SDGR)

Raymond James Financial Services Advisors Inc. bought a new stake in Schrödinger, Inc. (NASDAQ:SDGR) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,840 shares of the company’s stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Schrödinger by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,698,801 shares of the company’s stock valued at $189,375,000 after purchasing an additional 28,981 shares during the period. FMR LLC raised its holdings in Schrödinger by 0.9% in the 3rd quarter. FMR LLC now owns 1,735,362 shares of the company’s stock valued at $49,059,000 after acquiring an additional 16,149 shares during the period. Tocqueville Asset Management L.P. raised its holdings in Schrödinger by 11.7% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 727,668 shares of the company’s stock valued at $20,571,000 after acquiring an additional 76,293 shares during the period. Fred Alger Management LLC raised its holdings in Schrödinger by 2,504.0% in the 3rd quarter. Fred Alger Management LLC now owns 691,840 shares of the company’s stock valued at $19,558,000 after acquiring an additional 665,272 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Schrödinger by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 427,896 shares of the company’s stock valued at $12,097,000 after acquiring an additional 19,321 shares during the period. 79.05% of the stock is owned by institutional investors.

Schrödinger Trading Up 0.8 %

NASDAQ SDGR opened at $24.49 on Tuesday. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 38.87 and a beta of 1.57. The firm’s 50 day simple moving average is $27.18 and its 200 day simple moving average is $28.36. Schrödinger, Inc. has a 1 year low of $20.76 and a 1 year high of $59.24.

Schrödinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. The firm had revenue of $74.10 million for 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 company’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) earnings per share. On average, equities research analysts forecast that Schrödinger, Inc. will post -2.73 earnings per share for the current year.

Insiders Place Their Bets

In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction of $25,489.29. Following the sale, the chief operating officer now owns 36,487 shares of the company’s stock, valued at $1,032,217.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction of $25,489.29. Following the sale, the chief operating officer now owns 36,487 shares of the company’s stock, valued at $1,032,217.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Lorne Abel sold 1,205 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $27.55, for a total transaction of $33,197.75. Following the sale, the insider now directly owns 9,340 shares in the company, valued at approximately $257,317. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,651 shares of company stock valued at $102,395. 7.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SDGR shares. The Goldman Sachs Group lowered their price target on shares of Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. Piper Sandler lowered their price target on shares of Schrödinger from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Citigroup lowered their target price on shares of Schrödinger from $47.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Craig Hallum lowered their target price on shares of Schrödinger from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Finally, Bank of America lowered their target price on shares of Schrödinger from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

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.