Principal Financial Group Inc. Has $586,000 Position in monday.com Ltd. (NASDAQ:MNDY)

Principal Financial Group Inc. lowered its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 95.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,489 shares of the company's stock after selling 50,817 shares during the quarter. Principal Financial Group Inc.'s holdings in monday.com were worth $586,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. FMR LLC boosted its stake in shares of monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company's stock valued at $420,014,000 after purchasing an additional 798,791 shares during the last quarter. SG Americas Securities LLC lifted its holdings 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 valued at $112,162,000 after buying an additional 434,035 shares during the period. Jennison Associates LLC boosted its stake in monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company's stock valued at $202,905,000 after acquiring an additional 318,837 shares during the last quarter. M&G PLC acquired a new stake in monday.com during the 3rd quarter worth $9,921,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of monday.com by 27.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 151,800 shares of the company's stock valued at $42,165,000 after acquiring an additional 32,400 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

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monday.com Stock Performance

MNDY traded down $19.20 during trading on Monday, reaching $233.06. 1,644,330 shares of the stock were exchanged, compared to its average volume of 756,012. The stock's 50 day moving average price is $264.93 and its two-hundred day moving average price is $270.20. monday.com Ltd. has a twelve month low of $174.75 and a twelve month high of $342.64. The stock has a market cap of $11.25 billion, a P/E ratio of 388.43, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27.

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 return on equity of 6.22% and a net margin of 3.33%. Equities research analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MNDY shares. Barclays lifted their price objective on monday.com from $325.00 to $360.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Canaccord Genuity Group boosted their price objective on shares of monday.com from $310.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Cantor Fitzgerald upped their price objective on shares of monday.com from $292.00 to $380.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Loop Capital reduced their target price on monday.com from $310.00 to $300.00 and set a "buy" rating on the stock in a report on Monday, December 23rd. Finally, Jefferies Financial Group increased their price target on monday.com from $300.00 to $400.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $358.32.

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.