19,332 Shares in monday.com Ltd. $MNDY Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. acquired a new stake in monday.com Ltd. (NASDAQ:MNDY) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 19,332 shares of the company’s stock, valued at approximately $1,517,000.

A number of other hedge funds also recently made changes to their positions in MNDY. EverSource Wealth Advisors LLC boosted its stake in shares of monday.com by 498.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after acquiring an additional 354 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of monday.com during the 3rd quarter worth approximately $201,000. Quadrant Capital Group LLC acquired a new position in shares of monday.com during the 3rd quarter worth approximately $235,000. Evanson Financial LLC bought a new stake in monday.com in the 2nd quarter valued at $219,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in monday.com in the 3rd quarter valued at $240,000. 73.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MNDY shares. BTIG Research reaffirmed a “buy” rating and set a $105.00 price target on shares of monday.com in a report on Thursday, October 29th. Morgan Stanley set a $105.00 price objective on shares of monday.com in a report on Tuesday. Citigroup dropped their price objective on shares of monday.com from $154.00 to $132.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings raised shares of monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 15th. Finally, Zacks Research cut shares of monday.com from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, monday.com has a consensus rating of “Hold” and a consensus price target of $107.35.

Insider Transactions at monday.com

In other monday.com news, Director Aviad Eyal sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total value of $200,080.00. Following the transaction, the director directly owned 203,455 shares of the company’s stock, valued at $20,353,638.20. This represents a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is owned by company insiders.

monday.com Stock Down 6.3%

Shares of NASDAQ:MNDY opened at $87.93 on Friday. monday.com Ltd. has a 12-month low of $57.50 and a 12-month high of $190.72. The business has a 50 day moving average of $90.72 and a 200-day moving average of $83.05. The stock has a market cap of $4.50 billion, a PE ratio of 37.42, a P/E/G ratio of 1.98 and a beta of 1.06.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 earnings per share. Equities research analysts expect that monday.com Ltd. will post 2.34 earnings per share for the current year.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.