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

Pictet Asset Management Holding SA lifted its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 46.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,687 shares of the company's stock after buying an additional 5,295 shares during the quarter. Pictet Asset Management Holding SA's holdings in monday.com were worth $3,929,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in monday.com during the fourth quarter worth about $116,686,000. Loomis Sayles & Co. L P acquired a new stake in shares of monday.com in the fourth quarter valued at approximately $44,000. AssuredPartners Investment Advisors LLC bought a new position in shares of monday.com during the 4th quarter worth approximately $226,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of monday.com by 4.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,294 shares of the company's stock worth $17,713,000 after acquiring an additional 3,458 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in monday.com by 8.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,358 shares of the company's stock valued at $4,558,000 after acquiring an additional 1,450 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Trading Up 15.4 %

monday.com stock traded up $33.68 during midday trading on Wednesday, reaching $252.00. The company's stock had a trading volume of 1,277,653 shares, compared to its average volume of 809,209. The stock has a market cap of $12.79 billion, a PE ratio of 420.00, a price-to-earnings-growth ratio of 16.53 and a beta of 1.34. monday.com Ltd. has a 52 week low of $174.75 and a 52 week high of $342.64. The business has a 50-day moving average price of $270.72 and a 200-day moving average price of $268.45.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Tigress Financial lifted their target price on shares of monday.com from $340.00 to $450.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Scotiabank reduced their price objective on monday.com from $400.00 to $315.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Piper Sandler increased their target price on monday.com from $345.00 to $385.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Citigroup upgraded monday.com from a "neutral" rating to a "buy" rating and reduced their price target for the company from $302.00 to $298.00 in a research note on Thursday, January 16th. Finally, Cantor Fitzgerald increased their price objective on monday.com from $292.00 to $380.00 and gave the stock an "overweight" 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $352.64.

monday.com 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.