7,482 Shares in monday.com Ltd. (NASDAQ:MNDY) Bought by Wellington Management Group LLP

Wellington Management Group LLP purchased a new stake in monday.com Ltd. (NASDAQ:MNDY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,482 shares of the company’s stock, valued at approximately $1,405,000.

Other large investors have also bought and sold shares of the company. Desjardins Global Asset Management Inc. lifted its position in shares of monday.com by 222.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock valued at $25,000 after purchasing an additional 91 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of monday.com by 13.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 806 shares of the company’s stock worth $151,000 after buying an additional 93 shares during the last quarter. Yousif Capital Management LLC increased its position in shares of monday.com by 11.9% during the fourth quarter. Yousif Capital Management LLC now owns 1,500 shares of the company’s stock valued at $282,000 after acquiring an additional 160 shares during the last quarter. BloombergSen Inc. lifted its holdings in monday.com by 28.7% during the fourth quarter. BloombergSen Inc. now owns 1,010 shares of the company’s stock worth $190,000 after acquiring an additional 225 shares during the period. Finally, Principal Financial Group Inc. boosted its position in monday.com by 13.8% in the fourth quarter. Principal Financial Group Inc. now owns 1,914 shares of the company’s stock worth $359,000 after purchasing an additional 232 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MNDY shares. Barclays initiated coverage on monday.com in a research note on Wednesday, June 26th. They set an “overweight” rating and a $275.00 target price on the stock. Citigroup downgraded shares of monday.com from a “buy” rating to a “neutral” rating and reduced their target price for the company from $277.00 to $250.00 in a research report on Wednesday, April 10th. Oppenheimer lifted their price target on shares of monday.com from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Wells Fargo & Company increased their price objective on monday.com from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $270.00 price target (up previously from $250.00) on shares of monday.com in a research report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.82.

monday.com Price Performance

MNDY stock opened at $239.97 on Tuesday. The firm has a 50 day simple moving average of $215.75 and a two-hundred day simple moving average of $210.35. The stock has a market cap of $11.59 billion, a PE ratio of 631.52, a P/E/G ratio of 48.15 and a beta of 1.30. monday.com Ltd. has a one year low of $122.13 and a one year high of $249.00.

monday.com (NASDAQ:MNDY) last released its earnings results on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.25. monday.com had a return on equity of 2.42% and a net margin of 2.53%. The business had revenue of $216.91 million for the quarter, compared to analysts’ expectations of $210.33 million. On average, research analysts expect that monday.com Ltd. will post 0.12 EPS for the current fiscal year.

About monday.com

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.