Pictet Asset Management Holding SA Acquires 5,295 Shares of monday.com Ltd. (NASDAQ:MNDY)

Pictet Asset Management Holding SA increased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 46.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,687 shares of the company’s stock after buying an additional 5,295 shares during the period. Pictet Asset Management Holding SA’s holdings in monday.com were worth $3,929,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of monday.com during the fourth quarter worth approximately $116,686,000. Loomis Sayles & Co. L P acquired a new position in monday.com during the 4th quarter worth $44,000. AssuredPartners Investment Advisors LLC acquired a new position in monday.com during the 4th quarter worth $226,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in monday.com by 4.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,294 shares of the company’s stock valued at $17,713,000 after buying an additional 3,458 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of monday.com by 8.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,358 shares of the company’s stock worth $4,558,000 after acquiring an additional 1,450 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

monday.com Stock Performance

NASDAQ:MNDY opened at $217.77 on Friday. The stock has a 50-day simple moving average of $272.65 and a 200 day simple moving average of $269.77. monday.com Ltd. has a 52-week low of $174.75 and a 52-week high of $342.64. The company has a market cap of $11.06 billion, a PE ratio of 362.95, a PEG ratio of 16.53 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. On average, research analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on MNDY. Tigress Financial raised their price target on monday.com from $340.00 to $450.00 and gave the company a “buy” rating in a report on Friday, February 21st. Cantor Fitzgerald lifted their price target on shares of monday.com from $292.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Jefferies Financial Group dropped their price target on shares of monday.com from $400.00 to $360.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Robert W. Baird raised their price objective on shares of monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group upped their target price on shares of monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $352.64.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.