Norges Bank Acquires Shares of 495,609 monday.com Ltd. (NASDAQ:MNDY)

Norges Bank acquired a new position in monday.com Ltd. (NASDAQ:MNDY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 495,609 shares of the company's stock, valued at approximately $116,686,000. Norges Bank owned about 1.03% of monday.com at the end of the most recent quarter.

Several other large investors have also modified their holdings of MNDY. Loomis Sayles & Co. L P bought a new stake in monday.com during the fourth quarter valued at about $44,000. AssuredPartners Investment Advisors LLC bought a new stake in monday.com during the 4th quarter valued at approximately $226,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in monday.com by 4.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,294 shares of the company's stock valued at $17,713,000 after buying an additional 3,458 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in monday.com by 8.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,358 shares of the company's stock worth $4,558,000 after buying an additional 1,450 shares during the period. Finally, Keystone Investors PTE Ltd. acquired a new position in shares of monday.com during the fourth quarter worth approximately $2,161,000. 73.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on MNDY. Robert W. Baird boosted their target price on shares of monday.com from $275.00 to $335.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 11th. Loop Capital cut their price objective on shares of monday.com from $310.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. JPMorgan Chase & Co. lifted their target price on monday.com from $350.00 to $400.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Cantor Fitzgerald upped their price target on monday.com from $292.00 to $380.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Finally, Citigroup raised monday.com from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $302.00 to $298.00 in a report on Thursday, January 16th. Three equities 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $352.64.

Remove Ads

monday.com Trading Down 6.8 %

NASDAQ MNDY traded down $15.86 on Friday, hitting $217.77. 1,708,715 shares of the company were exchanged, compared to its average volume of 802,306. monday.com Ltd. has a 1-year low of $174.75 and a 1-year high of $342.64. The firm has a 50 day moving average of $272.65 and a two-hundred day moving average of $269.85. The company has a market cap of $11.06 billion, a P/E ratio of 362.95, a P/E/G ratio of 16.53 and a beta of 1.34.

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