Principal Financial Group Inc. Decreases Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Principal Financial Group Inc. decreased its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 95.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,489 shares of the company’s stock after selling 50,817 shares during the period. Principal Financial Group Inc.’s holdings in monday.com were worth $586,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MNDY. State of New Jersey Common Pension Fund D grew its stake in shares of monday.com by 1.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 15,991 shares of the company’s stock valued at $3,765,000 after acquiring an additional 300 shares in the last quarter. Palumbo Wealth Management LLC boosted its holdings in monday.com by 45.3% in the fourth quarter. Palumbo Wealth Management LLC now owns 3,670 shares of the company’s stock valued at $864,000 after purchasing an additional 1,145 shares during the last quarter. Rhumbline Advisers grew its stake in monday.com by 4.6% during the 4th quarter. Rhumbline Advisers now owns 10,561 shares of the company’s stock valued at $2,486,000 after purchasing an additional 465 shares in the last quarter. Blue Trust Inc. increased its holdings in monday.com by 311.0% during the 4th quarter. Blue Trust Inc. now owns 1,311 shares of the company’s stock worth $309,000 after purchasing an additional 992 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of monday.com by 1.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 13,018 shares of the company’s stock valued at $3,036,000 after purchasing an additional 148 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Stock Performance

Shares of MNDY opened at $254.00 on Friday. monday.com Ltd. has a one year low of $174.75 and a one year high of $342.64. The stock’s fifty day moving average is $264.55 and its 200-day moving average is $270.29. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 423.33, a price-to-earnings-growth ratio of 16.53 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. Analysts forecast that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on shares of monday.com from $350.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Cantor Fitzgerald lifted their price target on monday.com from $292.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Scotiabank upped their price objective on monday.com from $300.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, February 11th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $358.32.

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.