Sumitomo Mitsui Trust Group Inc. Raises Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,621 shares of the company’s stock after purchasing an additional 2,930 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.14% of monday.com worth $16,392,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MNDY. Sanctuary Advisors LLC acquired a new stake in shares of monday.com during the second quarter valued at about $285,000. Chicago Capital LLC increased its position in shares of monday.com by 18.9% during the third quarter. Chicago Capital LLC now owns 1,795 shares of the company’s stock valued at $499,000 after acquiring an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of monday.com by 431.7% during the third 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 during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of monday.com during the third quarter valued at about $21,989,000. Finally, Taylor Frigon Capital Management LLC acquired a new stake in shares of monday.com during the third quarter valued at about $1,311,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. KeyCorp upgraded shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price target for the company in a research report on Tuesday. Barclays lifted their price objective on shares of monday.com from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of monday.com from $350.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday. Robert W. Baird lifted their price objective on shares of monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Citigroup upgraded shares of monday.com from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $302.00 to $298.00 in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $353.32.

monday.com Trading Down 3.1 %

Shares of NASDAQ:MNDY opened at $317.73 on Thursday. The company has a market capitalization of $15.34 billion, a PE ratio of 774.95, a P/E/G ratio of 7.67 and a beta of 1.31. monday.com Ltd. has a twelve month low of $174.75 and a twelve month high of $342.64. The firm has a 50 day simple moving average of $251.81 and a 200-day simple moving average of $263.06.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 4.99% and a net margin of 2.39%. As a group, equities research analysts predict that monday.com Ltd. will post 0.85 EPS for the current fiscal 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.