monday.com Ltd. $MNDY Stock Holdings Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 18.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,164 shares of the company’s stock after buying an additional 12,738 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in monday.com were worth $6,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC raised its holdings in shares of monday.com by 93.3% during the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after acquiring an additional 1,052,900 shares during the period. RPD Fund Management LLC acquired a new position in monday.com in the 1st quarter worth approximately $17,529,000. Counterpoint Mutual Funds LLC boosted its stake in monday.com by 2,038.1% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 73,507 shares of the company’s stock worth $5,080,000 after purchasing an additional 70,069 shares during the period. Bank of America Corp DE boosted its stake in monday.com by 33.6% in the 1st quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock worth $13,451,000 after purchasing an additional 49,002 shares during the period. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in monday.com during the 1st quarter worth approximately $2,859,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MNDY shares. Zacks Research downgraded shares of monday.com from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. JPMorgan Chase & Co. cut monday.com from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $90.00 to $87.00 in a research report on Tuesday, September 29th. Weiss Ratings upgraded monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 15th. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price target on shares of monday.com in a report on Tuesday, October 27th. Finally, Barclays lowered monday.com from an “overweight” rating to an “equal weight” rating and set a $100.00 price target on the stock. in a research report on Monday, October 12th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.70.

monday.com Trading Up 0.9%

Shares of monday.com stock opened at $95.60 on Friday. The firm has a fifty day simple moving average of $90.78 and a 200-day simple moving average of $83.99. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 2.16 and a beta of 1.14. monday.com Ltd. has a 1-year low of $57.50 and a 1-year high of $210.49.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.11 by $0.37. The company had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. As a group, research analysts predict that monday.com Ltd. will post 2.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Aviad Eyal sold 2,000 shares of monday.com stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total transaction of $200,080.00. Following the sale, the director directly owned 203,455 shares in the company, valued at approximately $20,353,638.20. The trade was a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is owned by corporate insiders.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.