Virtus Advisers LLC Makes New Investment in monday.com Ltd. $MNDY

Virtus Advisers LLC bought a new stake in shares of monday.com Ltd. (NASDAQ:MNDY) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,641 shares of the company’s stock, valued at approximately $835,000.

A number of other institutional investors have also recently added to or reduced their stakes in MNDY. Diversified Trust Co acquired a new stake in monday.com in the 3rd quarter valued at $421,000. Russell Investments Group Ltd. raised its position in monday.com by 4,477.7% in the third quarter. Russell Investments Group Ltd. now owns 178,530 shares of the company’s stock valued at $13,946,000 after purchasing an additional 174,630 shares during the period. First Command Advisory Services Inc. acquired a new position in shares of monday.com during the third quarter worth about $200,000. Commonwealth Equity Services LLC lifted its stake in shares of monday.com by 56.8% during the third quarter. Commonwealth Equity Services LLC now owns 4,746 shares of the company’s stock worth $372,000 after purchasing an additional 1,720 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of monday.com during the third quarter worth about $1,517,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MNDY has been the subject of several recent research reports. Needham & Company LLC downgraded shares of monday.com from a “buy” rating to a “hold” rating in a research report on Monday, November 9th. Cantor Fitzgerald cut shares of monday.com from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $112.00 to $90.00 in a research report on Monday, August 10th. UBS Group decreased their price target on monday.com from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, November 10th. Capital One Financial lowered monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a report on Monday, August 10th. Finally, Jefferies Financial Group cut their price objective on monday.com from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, November 10th. Nine analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, monday.com presently has an average rating of “Hold” and a consensus price target of $102.87.

Insider Transactions at monday.com

In other monday.com news, Director Aviad Eyal sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the transaction, the director owned 203,455 shares of the company’s stock, valued at $20,353,638.20. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is owned by corporate insiders.

monday.com Stock Up 1.2%

MNDY stock traded up $0.96 during trading on Friday, hitting $78.00. 835,576 shares of the company’s stock traded hands, compared to its average volume of 1,223,910. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.06. monday.com Ltd. has a 52 week low of $57.50 and a 52 week high of $164.49. The stock has a fifty day moving average price of $88.70 and a two-hundred day moving average price of $81.80.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 9th. The company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.73. monday.com had a net margin of 10.05% and a return on equity of 16.75%. The company had revenue of $377.54 million for the quarter, compared to the consensus estimate of $369.17 million. During the same period last year, the firm posted $1.16 EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. As a group, equities research analysts expect that monday.com Ltd. will post 2.34 EPS for the current fiscal year.

monday.com Company Profile

monday.com Ltd. is a software company that provides a cloud-based platform for organizations to plan, manage and track work. Founded in 2012 as dapulse, the company adopted the monday.com name in 2017. Its products include monday work management, monday CRM, monday dev and monday service. The platform offers tools for project and workflow management, customer relationship management, software development and service operations, with features for collaboration, automation and reporting. Headquartered in Tel Aviv, Israel, monday.com serves customers across a range of industries and geographies.