J. Safra Sarasin Holding AG Has $6.91 Million Holdings in monday.com Ltd. (NASDAQ:MNDY)

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in monday.com Ltd. by 25.7%, now owning approximately 0.06% of the company valued at $6.9 million after selling 9,801 shares.
• Other hedge funds have varied their positions, with notable increases including Pictet Asset Management growing its stake by 46.5% during the fourth quarter.
• monday.com recently reported a 30.2% increase in revenue year-over-year, with an earnings per share (EPS) of $1.10, exceeding estimates by $0.40.

J. Safra Sarasin Holding AG decreased its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 25.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,403 shares of the company's stock after selling 9,801 shares during the period. J. Safra Sarasin Holding AG owned about 0.06% of monday.com worth $6,906,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust bought a new stake in shares of monday.com in the 1st quarter valued at approximately $30,000. First Horizon Advisors Inc. grew its stake in shares of monday.com by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock valued at $40,000 after purchasing an additional 70 shares during the period. Signaturefd LLC grew its stake in shares of monday.com by 50.7% in the 1st quarter. Signaturefd LLC now owns 217 shares of the company's stock valued at $53,000 after purchasing an additional 73 shares during the period. Farther Finance Advisors LLC grew its stake in shares of monday.com by 32.7% in the 1st quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after purchasing an additional 52 shares during the period. Finally, Opal Wealth Advisors LLC bought a new stake in shares of monday.com in the 1st quarter valued at approximately $64,000. Institutional investors and hedge funds own 73.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MNDY. Barclays lowered their price objective on monday.com from $360.00 to $345.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company set a $365.00 price objective on monday.com and gave the company an "overweight" rating in a research note on Friday, June 13th. Scotiabank upped their price objective on monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. dropped their price target on monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $325.00 price target on shares of monday.com in a report on Friday, June 27th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat, monday.com has an average rating of "Moderate Buy" and a consensus price target of $349.23.

monday.com Trading Down 0.6%

Shares of NASDAQ:MNDY traded down $1.61 during midday trading on Tuesday, hitting $248.14. The company had a trading volume of 122,758 shares, compared to its average volume of 776,613. monday.com Ltd. has a 12 month low of $202.01 and a 12 month high of $342.64. The stock has a market cap of $12.60 billion, a price-to-earnings ratio of 252.73, a PEG ratio of 90.66 and a beta of 1.28. The firm has a fifty day simple moving average of $293.33 and a 200 day simple moving average of $277.29.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.40. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The business had revenue of $282.25 million for the quarter, compared to analyst estimates of $275.93 million. During the same period last year, the company earned $0.61 EPS. The firm's revenue was up 30.2% on a year-over-year basis. Equities analysts forecast that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

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.