Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in monday.com Ltd. (NASDAQ:MNDY)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in monday.com Ltd. (NASDAQ:MNDY) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,294 shares of the company’s stock after purchasing an additional 3,458 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of monday.com worth $17,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MNDY. SG Americas Securities LLC boosted its holdings in monday.com by 1,024.7% in the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after acquiring an additional 434,035 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of monday.com in the 4th quarter valued at approximately $27,010,000. Jennison Associates LLC boosted its stake in monday.com by 13.7% in the 4th quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock worth $195,606,000 after purchasing an additional 100,333 shares in the last quarter. Polen Capital Management LLC purchased a new stake in monday.com during the 4th quarter worth approximately $12,522,000. Finally, TIAA Trust National Association acquired a new position in monday.com during the 4th quarter valued at approximately $11,893,000. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Price Performance

monday.com stock opened at $247.01 on Monday. The stock has a market capitalization of $12.54 billion, a PE ratio of 411.68, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27. The business has a 50 day simple moving average of $272.99 and a 200-day simple moving average of $270.44. monday.com Ltd. has a 12 month low of $174.75 and a 12 month high of $342.64.

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

Wall Street Analyst Weigh In

MNDY has been the subject of several research reports. Wells Fargo & Company lifted their price objective on shares of monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group boosted their price target on monday.com from $310.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Jefferies Financial Group raised their price objective on monday.com from $300.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Citigroup upgraded monday.com from a “neutral” rating to a “buy” rating and dropped their target price for the company from $302.00 to $298.00 in a research report on Thursday, January 16th. Finally, Barclays raised their price target on shares of monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $354.45.

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.