Blue Trust Inc. Buys 1,163 Shares of monday.com Ltd. (NASDAQ:MNDY)

Blue Trust Inc. raised its stake in monday.com Ltd. (NASDAQ:MNDY) by 364.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,482 shares of the company’s stock after acquiring an additional 1,163 shares during the period. Blue Trust Inc.’s holdings in monday.com were worth $349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its position in monday.com by 112.0% during 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 grew its holdings in shares of monday.com by 1,024.7% during 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 last quarter. Jennison Associates LLC increased its position in shares of monday.com by 77.5% during 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after acquiring an additional 313,279 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in monday.com in the 3rd quarter valued at approximately $21,989,000. 73.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Loop Capital reduced their target price on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Piper Sandler reduced their price objective on monday.com from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Monday, January 6th. KeyCorp downgraded shares of monday.com from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Wells Fargo & Company increased their price objective on shares of monday.com from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Capital One Financial began coverage on shares of monday.com in a research report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 target price for the company. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $310.68.

monday.com Trading Up 5.6 %

monday.com stock opened at $255.46 on Friday. monday.com Ltd. has a 12-month low of $174.75 and a 12-month high of $324.99. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 623.07, a P/E/G ratio of 6.20 and a beta of 1.30. The firm has a 50 day moving average of $252.58 and a 200 day moving average of $260.30.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same period in the prior year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 49.5% compared to the same quarter last year. On average, analysts predict that monday.com Ltd. will post 0.85 EPS for the current year.

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.