monday.com Ltd. (NASDAQ:MNDY) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 14.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,606 shares of the company's stock after buying an additional 8,106 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.13% of monday.com worth $15,555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. WCM Investment Management LLC purchased a new position in shares of monday.com during the first quarter worth $728,521,000. Price T Rowe Associates Inc. MD boosted its position in shares of monday.com by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company's stock worth $714,781,000 after buying an additional 31,304 shares during the period. 1832 Asset Management L.P. boosted its position in shares of monday.com by 12.1% during the fourth quarter. 1832 Asset Management L.P. now owns 860,300 shares of the company's stock worth $161,573,000 after buying an additional 92,600 shares during the period. Jennison Associates LLC boosted its holdings in monday.com by 12.1% in the first quarter. Jennison Associates LLC now owns 782,154 shares of the company's stock valued at $176,665,000 after purchasing an additional 84,182 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in monday.com by 33.0% in the first quarter. Westfield Capital Management Co. LP now owns 415,584 shares of the company's stock valued at $93,868,000 after purchasing an additional 103,094 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MNDY has been the subject of a number of recent research reports. Loop Capital lifted their target price on monday.com from $245.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. Bank of America lifted their target price on monday.com from $280.00 to $300.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. Baird R W upgraded monday.com to a "hold" rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on monday.com from $270.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group lifted their target price on monday.com from $250.00 to $295.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $285.79.

monday.com Price Performance

Shares of MNDY traded down $2.19 during midday trading on Wednesday, reaching $266.50. 318,690 shares of the stock were exchanged, compared to its average volume of 794,345. The business's 50-day moving average price is $234.64 and its 200 day moving average price is $221.13. monday.com Ltd. has a twelve month low of $122.13 and a twelve month high of $272.77. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 701.32, a PEG ratio of 43.41 and a beta of 1.30.

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.