1832 Asset Management L.P. Raises Stock Position in monday.com Ltd. (NASDAQ:MNDY)

1832 Asset Management L.P. boosted its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 34.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 667,500 shares of the company’s stock after purchasing an additional 170,800 shares during the period. 1832 Asset Management L.P. owned approximately 1.38% of monday.com worth $160,707,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in monday.com by 63.9% during the 1st quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock valued at $24,243,000 after purchasing an additional 41,840 shares in the last quarter. Norden Group LLC acquired a new stake in monday.com during the 1st quarter valued at $840,000. Boulder Hill Capital Management LP acquired a new stake in monday.com during the 4th quarter valued at $2,197,000. Bessemer Group Inc. acquired a new stake in monday.com during the 1st quarter valued at $1,314,000. Finally, Toth Financial Advisory Corp acquired a new stake in monday.com during the 1st quarter valued at $782,000. 73.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MNDY has been the subject of a number of recent analyst reports. Loop Capital raised their price target on shares of monday.com from $245.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Wolfe Research assumed coverage on shares of monday.com in a report on Tuesday, July 9th. They set an “outperform” rating and a $300.00 price objective for the company. UBS Group raised their price objective on shares of monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Baird R W raised shares of monday.com to a “hold” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird raised their price objective on shares of monday.com from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, monday.com has a consensus rating of “Moderate Buy” and an average price target of $285.79.

monday.com Stock Up 2.1 %

Shares of NASDAQ:MNDY opened at $280.17 on Friday. The company has a market cap of $13.53 billion, a PE ratio of 737.29, a P/E/G ratio of 12.23 and a beta of 1.32. The company’s 50-day moving average price is $245.95 and its 200 day moving average price is $227.08. monday.com Ltd. has a fifty-two week low of $122.13 and a fifty-two week high of $281.26.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, August 12th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The company had revenue of $236.11 million for the quarter, compared to the consensus estimate of $227.96 million. As a group, equities analysts anticipate that monday.com Ltd. will post 0.49 EPS 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.