Polen Capital Management LLC Buys New Position in monday.com Ltd. (NASDAQ:MNDY)

Polen Capital Management LLC purchased a new stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 53,186 shares of the company's stock, valued at approximately $12,522,000. Polen Capital Management LLC owned approximately 0.11% of monday.com as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company's stock valued at $420,014,000 after acquiring an additional 798,791 shares during the period. SG Americas Securities LLC raised its position in monday.com by 1,024.7% in the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company's stock worth $112,162,000 after acquiring an additional 434,035 shares in the last quarter. Jennison Associates LLC raised its position in monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company's stock worth $202,905,000 after acquiring an additional 318,837 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of monday.com in the fourth quarter valued at $27,010,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of monday.com by 27.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 151,800 shares of the company's stock valued at $42,165,000 after buying an additional 32,400 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Loop Capital dropped their price target on monday.com from $310.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. William Blair restated an "outperform" rating on shares of monday.com in a research report on Wednesday, December 18th. Piper Sandler increased their price objective on monday.com from $345.00 to $385.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Barclays increased their price objective on monday.com from $325.00 to $360.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Finally, Robert W. Baird increased their price objective on monday.com from $275.00 to $335.00 and gave the company a "neutral" rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, monday.com has an average rating of "Moderate Buy" and a consensus target price of $354.45.

monday.com Stock Up 0.7 %

Shares of NASDAQ MNDY traded up $1.88 during midday trading on Thursday, hitting $264.56. The stock had a trading volume of 381,804 shares, compared to its average volume of 766,989. The company has a market capitalization of $12.77 billion, a price-to-earnings ratio of 440.93, a PEG ratio of 16.53 and a beta of 1.27. monday.com Ltd. has a 1-year low of $174.75 and a 1-year high of $342.64. The company has a fifty day moving average price of $267.89 and a 200 day moving average price of $269.54.

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 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%. On average, research analysts forecast that monday.com Ltd. will post 0.46 EPS for the current year.

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.