Ensign Peak Advisors Inc Increases Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Ensign Peak Advisors Inc increased its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 96.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,458 shares of the company’s stock after acquiring an additional 3,164 shares during the quarter. Ensign Peak Advisors Inc’s holdings in monday.com were worth $1,520,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. FMR LLC raised its stake in shares of monday.com by 78.7% during the 4th quarter. FMR LLC now owns 2,701,952 shares of the company’s stock worth $636,147,000 after acquiring an additional 1,189,858 shares in the last quarter. Jennison Associates LLC increased its stake in monday.com by 13.7% during the 4th quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock valued at $195,606,000 after purchasing an additional 100,333 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in monday.com by 264.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company’s stock valued at $126,407,000 after purchasing an additional 403,255 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in monday.com by 23.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 499,950 shares of the company’s stock valued at $117,708,000 after purchasing an additional 96,222 shares in the last quarter. Finally, Norges Bank acquired a new position in monday.com during the 4th quarter valued at approximately $116,686,000. Institutional investors own 73.70% of the company’s stock.

monday.com Stock Performance

MNDY stock opened at $292.97 on Friday. The firm has a market cap of $14.87 billion, a PE ratio of 488.28, a P/E/G ratio of 16.53 and a beta of 1.32. The firm’s fifty day moving average is $258.41 and its 200 day moving average is $265.46. monday.com Ltd. has a one year low of $188.01 and a one year high of $342.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.70 by $0.40. The company had revenue of $282.25 million for the quarter, compared to analyst estimates of $275.93 million. monday.com had a net margin of 3.33% and a return on equity of 6.22%. The firm’s revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the business earned $0.61 earnings per share. Research analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on MNDY. Barclays cut their price target on shares of monday.com from $360.00 to $345.00 and set an “overweight” rating on the stock in a research note on Tuesday. Loop Capital cut their price target on shares of monday.com from $385.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday. Jefferies Financial Group cut their price target on shares of monday.com from $400.00 to $360.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Piper Sandler upped their price target on shares of monday.com from $305.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wells Fargo & Company upped their price target on shares of monday.com from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $346.50.

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.