Assenagon Asset Management S.A. Purchases 389,073 Shares of monday.com Ltd. (NASDAQ:MNDY)

Assenagon Asset Management S.A. lifted its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 754.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 440,622 shares of the company’s stock after purchasing an additional 389,073 shares during the quarter. Assenagon Asset Management S.A. owned about 0.87% of monday.com worth $107,142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC boosted its position in shares of monday.com by 78.7% during the fourth quarter. FMR LLC now owns 2,701,952 shares of the company’s stock valued at $636,147,000 after purchasing an additional 1,189,858 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of monday.com by 264.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company’s stock valued at $126,407,000 after purchasing an additional 403,255 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of monday.com by 23.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 499,950 shares of the company’s stock valued at $117,708,000 after purchasing an additional 96,222 shares in the last quarter. Norges Bank bought a new stake in shares of monday.com during the fourth quarter valued at approximately $116,686,000. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of monday.com during the fourth quarter valued at approximately $109,605,000. 73.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MNDY shares. JPMorgan Chase & Co. dropped their price target on monday.com from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. UBS Group lowered their price objective on monday.com from $350.00 to $310.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Tigress Financial lifted their price objective on monday.com from $340.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group lifted their price objective on monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Wall Street Zen upgraded monday.com from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $346.50.

monday.com Stock Performance

NASDAQ:MNDY opened at $308.12 on Wednesday. The firm has a market capitalization of $15.64 billion, a PE ratio of 513.53, a P/E/G ratio of 16.53 and a beta of 1.30. The stock has a 50-day simple moving average of $273.21 and a two-hundred day simple moving average of $266.99. monday.com Ltd. has a 52-week low of $188.01 and a 52-week high of $342.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.40. The firm had revenue of $282.25 million during the quarter, compared to analyst estimates of $275.93 million. monday.com had a return on equity of 6.22% and a net margin of 3.33%. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 earnings per share. Equities analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

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.