monday.com Ltd. (NASDAQ:MNDY) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,691 shares of the company's stock after acquiring an additional 2,085 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.14% of monday.com worth $18,525,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of monday.com during the third quarter worth about $43,000. Ridgewood Investments LLC bought a new stake in monday.com during the 2nd quarter valued at approximately $45,000. Gilliland Jeter Wealth Management LLC raised its stake in monday.com by 72.9% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company's stock valued at $58,000 after purchasing an additional 102 shares during the period. Opal Wealth Advisors LLC bought a new stake in monday.com during the 2nd quarter valued at approximately $69,000. Finally, Industrial Alliance Investment Management Inc. raised its stake in monday.com by 741.7% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company's stock valued at $91,000 after purchasing an additional 356 shares during the period. Hedge funds and other institutional investors own 73.70% of the company's stock.

monday.com Price Performance

Shares of NASDAQ MNDY traded down $7.43 during mid-day trading on Monday, hitting $255.46. The company had a trading volume of 1,099,242 shares, compared to its average volume of 725,021. The company has a market capitalization of $12.33 billion, a PE ratio of 623.07, a price-to-earnings-growth ratio of 12.26 and a beta of 1.31. monday.com Ltd. has a 1-year low of $168.28 and a 1-year high of $324.99. The business's 50-day simple moving average is $280.74 and its 200 day simple moving average is $249.45.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company had revenue of $251.00 million for the quarter, compared to analysts' expectations of $246.17 million. During the same period last year, the firm earned $0.15 earnings per share. monday.com's quarterly revenue was up 49.5% on a year-over-year basis. On average, analysts expect that monday.com Ltd. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

MNDY has been the subject of several research analyst reports. Bank of America raised their price target on monday.com from $280.00 to $300.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. Loop Capital lifted their target price on monday.com from $285.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their target price on monday.com from $270.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, August 13th. Capital One Financial assumed coverage on monday.com in a report on Thursday, October 10th. They issued an "overweight" rating and a $325.00 target price for the company. Finally, Robert W. Baird lifted their target price on monday.com from $265.00 to $270.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, monday.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $310.10.

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.