Cadian Capital Management LP Buys Shares of 150,000 monday.com Ltd. (NASDAQ:MNDY)

Cadian Capital Management LP purchased a new position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 150,000 shares of the company's stock, valued at approximately $35,316,000. monday.com makes up about 2.0% of Cadian Capital Management LP's holdings, making the stock its 18th biggest holding. Cadian Capital Management LP owned approximately 0.31% of monday.com at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MNDY. Captrust Financial Advisors boosted its position in shares of monday.com by 1.2% in the fourth quarter. Captrust Financial Advisors now owns 7,041 shares of the company's stock worth $1,658,000 after acquiring an additional 85 shares during the last quarter. Benchstone Capital Management LP purchased a new stake in shares of monday.com during the 4th quarter valued at $14,646,000. Bank of America Corp DE increased its holdings in shares of monday.com by 21.5% during the 4th quarter. Bank of America Corp DE now owns 115,512 shares of the company's stock worth $27,196,000 after buying an additional 20,438 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of monday.com in the 4th quarter worth $65,898,000. Finally, Bienville Capital Management LLC boosted its holdings in monday.com by 141.4% in the fourth quarter. Bienville Capital Management LLC now owns 75,600 shares of the company's stock valued at $17,799,000 after acquiring an additional 44,279 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MNDY shares. Robert W. Baird lifted their price objective on monday.com from $275.00 to $335.00 and gave the company a "neutral" rating in a research note on Tuesday, February 11th. Canaccord Genuity Group boosted their price objective on shares of monday.com from $310.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Citigroup raised shares of monday.com from a "neutral" rating to a "buy" rating and cut their target price for the company from $302.00 to $298.00 in a research note on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on monday.com from $350.00 to $400.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Finally, DA Davidson reduced their price objective on monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, monday.com presently has an average rating of "Moderate Buy" and an average target price of $345.14.

monday.com Stock Up 0.7 %

MNDY opened at $279.12 on Monday. The company's 50-day moving average price is $257.06 and its 200 day moving average price is $265.69. monday.com Ltd. has a fifty-two week low of $180.66 and a fifty-two week high of $342.64. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 465.20, a price-to-earnings-growth ratio of 16.53 and a beta of 1.34.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings data 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 3.33% and a return on equity of 6.22%. Research analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current year.

monday.com Company 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.

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