Sumitomo Mitsui Trust Group Inc. Grows Holdings in monday.com Ltd. (NASDAQ:MNDY)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in monday.com Ltd. (NASDAQ:MNDY) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,621 shares of the company’s stock after purchasing an additional 2,930 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in monday.com were worth $16,392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Avior Wealth Management LLC increased its stake in monday.com by 2.6% in the 3rd quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after buying an additional 67 shares during the period. Northwest & Ethical Investments L.P. increased its stake in monday.com by 18.2% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock valued at $181,000 after buying an additional 100 shares during the period. Choreo LLC increased its stake in monday.com by 3.8% in the 4th quarter. Choreo LLC now owns 3,005 shares of the company’s stock valued at $707,000 after buying an additional 111 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in monday.com by 74.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 274 shares of the company’s stock valued at $64,000 after buying an additional 117 shares during the period. Finally, Vestcor Inc increased its stake in monday.com by 31.4% in the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MNDY. KeyCorp raised shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price objective on the stock in a research note on Tuesday. Barclays upped their price target on shares of monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday. Needham & Company LLC upped their price target on shares of monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group upped their price target on shares of monday.com from $300.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Scotiabank upped their price target on shares of monday.com from $300.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $353.32.

monday.com Trading Down 3.1 %

NASDAQ:MNDY opened at $317.73 on Thursday. The firm has a market cap of $15.34 billion, a price-to-earnings ratio of 774.95, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31. The company’s 50-day moving average is $251.81 and its two-hundred day moving average is $263.06. monday.com Ltd. has a 12-month low of $174.75 and a 12-month high of $342.64.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 2.39% and a return on equity of 4.99%. On average, equities research analysts forecast that monday.com Ltd. will post 0.85 earnings per share 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.