Greenwood Capital Associates LLC Trims Holdings in Schrödinger, Inc. (NASDAQ:SDGR)

Greenwood Capital Associates LLC cut its stake in Schrödinger, Inc. (NASDAQ:SDGR) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,558 shares of the company’s stock after selling 709 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Schrödinger were worth $418,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SDGR. Vanguard Group Inc. grew its position in Schrödinger by 0.5% during the first quarter. Vanguard Group Inc. now owns 6,809,024 shares of the company’s stock worth $183,844,000 after buying an additional 32,393 shares in the last quarter. Rubric Capital Management LP grew its position in Schrödinger by 213.5% during the second quarter. Rubric Capital Management LP now owns 3,130,000 shares of the company’s stock worth $60,534,000 after buying an additional 2,131,724 shares in the last quarter. Stephens Investment Management Group LLC grew its position in Schrödinger by 39.6% during the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock worth $28,565,000 after buying an additional 436,789 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Schrödinger by 53.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,228,123 shares of the company’s stock worth $23,752,000 after buying an additional 427,594 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its position in Schrödinger by 35.5% during the first quarter. Tocqueville Asset Management L.P. now owns 899,750 shares of the company’s stock worth $24,293,000 after buying an additional 235,785 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Schrödinger

In related news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the completion of the sale, the insider now directly owns 13,469 shares in the company, valued at $239,478.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.60% of the stock is currently owned by company insiders.

Schrödinger Price Performance

Shares of SDGR stock opened at $17.89 on Wednesday. The stock has a market capitalization of $1.30 billion, a PE ratio of -6.68 and a beta of 1.50. Schrödinger, Inc. has a 1-year low of $16.67 and a 1-year high of $38.00. The business has a 50-day moving average of $18.91 and a 200 day moving average of $20.61.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. BMO Capital Markets reduced their target price on Schrödinger from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. KeyCorp dropped their price target on Schrödinger from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Morgan Stanley dropped their price target on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

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.