Formula Growth Ltd. Buys Shares of 21,000 monday.com Ltd. (NASDAQ:MNDY)

Formula Growth Ltd. acquired a new position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 21,000 shares of the company's stock, valued at approximately $4,944,000. monday.com accounts for about 1.7% of Formula Growth Ltd.'s holdings, making the stock its 11th biggest position.

Several other large investors also recently made changes to their positions in MNDY. ShawSpring Partners LLC increased its holdings in monday.com by 8.0% in the 4th quarter. ShawSpring Partners LLC now owns 378,712 shares of the company's stock valued at $89,164,000 after purchasing an additional 28,182 shares in the last quarter. Jump Financial LLC grew its stake in shares of monday.com by 118.8% in the fourth quarter. Jump Financial LLC now owns 98,046 shares of the company's stock valued at $23,084,000 after buying an additional 53,240 shares in the last quarter. Townsquare Capital LLC purchased a new stake in shares of monday.com during the 4th quarter valued at about $478,000. Sterling Capital Management LLC lifted its position in monday.com by 58.8% during the 4th quarter. Sterling Capital Management LLC now owns 17,050 shares of the company's stock worth $4,014,000 after acquiring an additional 6,314 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in monday.com by 7,282.0% in the 4th quarter. Neuberger Berman Group LLC now owns 303,992 shares of the company's stock worth $71,572,000 after acquiring an additional 299,874 shares during the period. Institutional investors and hedge funds own 73.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Scotiabank decreased their target price on shares of monday.com from $400.00 to $315.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. DA Davidson decreased their price objective on shares of monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Barclays lifted their target price on monday.com from $325.00 to $360.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Robert W. Baird increased their price target on monday.com from $275.00 to $335.00 and gave the company a "neutral" rating in a report on Tuesday, February 11th. Finally, Jefferies Financial Group dropped their price objective on monday.com from $400.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, monday.com presently has an average rating of "Moderate Buy" and a consensus target price of $343.09.

monday.com Price Performance

Shares of NASDAQ MNDY traded up $14.35 during mid-day trading on Thursday, hitting $262.34. The company had a trading volume of 373,481 shares, compared to its average volume of 800,975. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 437.05, a PEG ratio of 16.53 and a beta of 1.34. The firm's 50 day simple moving average is $261.57 and its two-hundred day simple moving average is $266.32. monday.com Ltd. has a 12 month low of $179.02 and a 12 month high of $342.64.

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