Principal Financial Group Inc. Has $14.81 Million Stake in monday.com Ltd. (NASDAQ:MNDY)

Principal Financial Group Inc. grew its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 35.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,306 shares of the company's stock after purchasing an additional 14,059 shares during the period. Principal Financial Group Inc. owned about 0.11% of monday.com worth $14,807,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of monday.com during the third quarter valued at approximately $43,000. Toronto Dominion Bank acquired a new stake in monday.com during the second quarter valued at approximately $120,000. Vestcor Inc grew its stake in shares of monday.com by 31.4% in the 3rd quarter. Vestcor Inc now owns 519 shares of the company's stock valued at $144,000 after purchasing an additional 124 shares during the period. Larson Financial Group LLC raised its holdings in shares of monday.com by 645.7% in the 3rd quarter. Larson Financial Group LLC now owns 604 shares of the company's stock worth $168,000 after buying an additional 523 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of monday.com by 18.2% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company's stock worth $181,000 after buying an additional 100 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MNDY has been the subject of several recent analyst reports. Barclays increased their price objective on monday.com from $300.00 to $325.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. Scotiabank started coverage on shares of monday.com in a report on Tuesday, November 19th. They set a "sector outperform" rating and a $325.00 price target for the company. Piper Sandler restated an "overweight" rating and issued a $350.00 price target on shares of monday.com in a research report on Wednesday, December 18th. William Blair reaffirmed an "outperform" rating on shares of monday.com in a report on Wednesday, December 18th. Finally, Needham & Company LLC lifted their target price on shares of monday.com from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $309.14.

monday.com Price Performance

Shares of monday.com stock traded down $2.00 during trading on Friday, hitting $233.22. 437,853 shares of the company were exchanged, compared to its average volume of 748,051. The firm has a market capitalization of $11.26 billion, a P/E ratio of 568.83, a price-to-earnings-growth ratio of 7.61 and a beta of 1.25. The firm's fifty day moving average price is $276.93 and its 200 day moving average price is $259.53. monday.com Ltd. has a 1-year low of $170.00 and a 1-year high of $324.99.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.24. The firm had revenue of $251.00 million during the quarter, compared to analysts' expectations of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business's revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. As a group, equities research analysts anticipate that monday.com Ltd. will post 0.85 earnings per share 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.