Sumitomo Mitsui Trust Group Inc. Has $18.53 Million Holdings in monday.com Ltd. (NASDAQ:MNDY)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 3.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 66,691 shares of the company’s stock after acquiring an additional 2,085 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in monday.com were worth $18,525,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quent Capital LLC acquired a new position in monday.com in the 1st quarter valued at $565,000. Russell Investments Group Ltd. grew its position in shares of monday.com by 156.0% in the first quarter. Russell Investments Group Ltd. now owns 25,673 shares of the company’s stock valued at $5,799,000 after purchasing an additional 15,643 shares during the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of monday.com in the first quarter worth about $1,379,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of monday.com by 4.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 14,422 shares of the company’s stock worth $3,257,000 after purchasing an additional 603 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in monday.com by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 45,682 shares of the company’s stock valued at $10,318,000 after purchasing an additional 5,229 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Stock Down 2.2 %

Shares of monday.com stock opened at $262.89 on Monday. monday.com Ltd. has a 12-month low of $166.86 and a 12-month high of $324.99. The stock has a market capitalization of $12.69 billion, a P/E ratio of 641.20, a price-to-earnings-growth ratio of 12.26 and a beta of 1.31. The company has a 50-day simple moving average of $280.53 and a 200 day simple moving average of $248.96.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company’s revenue was up 49.5% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share. On average, equities analysts anticipate that monday.com Ltd. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MNDY has been the topic of several recent analyst reports. Needham & Company LLC lifted their price target on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Citigroup upped their target price on shares of monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Robert W. Baird raised their price target on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, TD Cowen upped their price objective on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $310.10.

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.