Point72 Hong Kong Ltd Takes Position in monday.com Ltd. (NASDAQ:MNDY)

Point72 Hong Kong Ltd acquired a new position in monday.com Ltd. (NASDAQ:MNDY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,554 shares of the company's stock, valued at approximately $1,779,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC lifted its holdings in monday.com by 78.7% in the fourth quarter. FMR LLC now owns 2,701,952 shares of the company's stock worth $636,147,000 after buying an additional 1,189,858 shares during the period. Jennison Associates LLC lifted its holdings in shares of monday.com by 13.7% during the fourth quarter. Jennison Associates LLC now owns 830,811 shares of the company's stock valued at $195,606,000 after purchasing an additional 100,333 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in monday.com by 23.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 499,950 shares of the company's stock valued at $117,708,000 after buying an additional 96,222 shares during the last quarter. Finally, Norges Bank purchased a new stake in monday.com during the 4th quarter valued at $116,686,000. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MNDY shares. Loop Capital decreased their target price on shares of monday.com from $385.00 to $375.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Canaccord Genuity Group decreased their target price on shares of monday.com from $375.00 to $350.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. DA Davidson decreased their target price on shares of monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group cut their price objective on shares of monday.com from $400.00 to $360.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, JPMorgan Chase & Co. cut their price objective on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $346.50.

monday.com Trading Down 1.4%

monday.com stock traded down $4.09 during mid-day trading on Wednesday, hitting $297.99. The stock had a trading volume of 206,203 shares, compared to its average volume of 769,383. The firm's 50 day moving average is $261.41 and its 200 day moving average is $265.14. monday.com Ltd. has a one year low of $188.01 and a one year high of $342.64. The firm has a market capitalization of $15.13 billion, a P/E ratio of 497.53, a P/E/G ratio of 16.53 and a beta of 1.32.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.70 by $0.40. monday.com had a net margin of 3.33% and a return on equity of 6.22%. The business had revenue of $282.25 million during the quarter, compared to the consensus estimate of $275.93 million. During the same quarter in the prior year, the firm earned $0.61 EPS. The business's revenue was up 30.2% on a year-over-year basis. As a group, equities research analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current year.

About monday.com

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.