19,332 Shares in monday.com Ltd. $MNDY Purchased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group initiated a position in monday.com, purchasing 19,332 shares worth approximately $1.52 million in the third quarter; institutional investors own 73.7% of the stock.
• monday.com reported quarterly earnings of $1.48 per share, beating estimates of $1.11, while revenue rose 21.9% year over year to $364.6 million.
• The stock was reported down 6.3%. Analysts’ consensus rating is Hold, with an average price target of $107.35.

Sumitomo Mitsui Trust Group Inc. bought a new stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,332 shares of the company's stock, valued at approximately $1,517,000.

A number of other large investors have also recently bought and sold shares of MNDY. EverSource Wealth Advisors LLC grew its stake in shares of monday.com by 498.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company's stock worth $29,000 after acquiring an additional 354 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of monday.com in the third quarter valued at approximately $201,000. Quadrant Capital Group LLC acquired a new stake in shares of monday.com in the third quarter valued at approximately $235,000. Evanson Financial LLC bought a new stake in shares of monday.com in the second quarter worth $219,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of monday.com in the third quarter worth $240,000. Institutional investors and hedge funds own 73.70% of the company's stock.

monday.com Stock Down 6.3%

NASDAQ:MNDY opened at $87.93 on Friday. monday.com Ltd. has a twelve month low of $57.50 and a twelve month high of $190.72. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 37.42, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The stock's 50 day moving average price is $90.72 and its two-hundred day moving average price is $83.05.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The company had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. During the same quarter in the prior year, the firm posted $1.09 EPS. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts anticipate that monday.com Ltd. will post 2.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. TD Cowen cut shares of monday.com from a "buy" rating to a "hold" rating and reduced their target price for the stock from $110.00 to $105.00 in a report on Tuesday, November 3rd. Capital One Financial lowered shares of monday.com from an "overweight" rating to an "equal weight" rating and set a $95.00 price target on the stock. in a research note on Monday, August 10th. Guggenheim reissued a "buy" rating and set a $130.00 price target on shares of monday.com in a research report on Tuesday, November 3rd. BTIG Research restated a "buy" rating and set a $105.00 price objective on shares of monday.com in a research note on Thursday, October 29th. Finally, Citigroup reduced their price objective on shares of monday.com from $154.00 to $132.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $107.35.

Insider Transactions at monday.com

In other monday.com news, Director Aviad Eyal sold 2,000 shares of the stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the completion of the sale, the director owned 203,455 shares in the company, 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 through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 22.30% of the company's stock.

monday.com Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.