Envestnet Asset Management Inc. Grows Position in monday.com Ltd. (NASDAQ:MNDY)

Envestnet Asset Management Inc. increased its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,799 shares of the company's stock after buying an additional 6,496 shares during the quarter. Envestnet Asset Management Inc. owned 0.36% of monday.com worth $41,155,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MNDY. Hel Ved Capital Management Ltd acquired a new stake in shares of monday.com during the fourth quarter worth approximately $7,201,000. Prudential PLC raised its position in shares of monday.com by 151.5% during the fourth quarter. Prudential PLC now owns 2,590 shares of the company's stock worth $610,000 after acquiring an additional 1,560 shares during the last quarter. BloombergSen Inc. lifted its stake in shares of monday.com by 7.8% during the fourth quarter. BloombergSen Inc. now owns 3,634 shares of the company's stock valued at $856,000 after acquiring an additional 262 shares during the period. Trexquant Investment LP bought a new position in monday.com in the fourth quarter valued at about $6,694,000. Finally, Headlands Technologies LLC bought a new stake in monday.com during the 4th quarter worth about $3,160,000. Institutional investors own 73.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MNDY. Loop Capital dropped their price target on monday.com from $310.00 to $300.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. Citigroup raised shares of monday.com from a "neutral" rating to a "buy" rating and cut their price target for the stock from $302.00 to $298.00 in a report on Thursday, January 16th. Cantor Fitzgerald increased their price objective on monday.com from $292.00 to $380.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Canaccord Genuity Group boosted their price target on monday.com from $310.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC boosted their target price on monday.com from $350.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $349.91.

monday.com Stock Performance

Shares of NASDAQ MNDY traded down $4.15 during trading on Thursday, hitting $246.20. 195,503 shares of the company were exchanged, compared to its average volume of 803,075. The firm has a market capitalization of $12.50 billion, a PE ratio of 409.91, a P/E/G ratio of 16.53 and a beta of 1.34. monday.com Ltd. has a 12-month low of $174.75 and a 12-month high of $342.64. The company has a fifty day moving average price of $269.64 and a 200-day moving average price of $267.45.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share (EPS) 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%. Research analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal 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.