APG Asset Management N.V. Buys 4,279 Shares of monday.com Ltd. (NASDAQ:MNDY)

APG Asset Management N.V. boosted its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 290.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,751 shares of the company’s stock after purchasing an additional 4,279 shares during the quarter. APG Asset Management N.V.’s holdings in monday.com were worth $1,292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. bought a new stake in shares of monday.com during the 1st quarter worth $76,534,000. Clearbridge Investments LLC lifted its position in monday.com by 2,851.5% during the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after acquiring an additional 332,852 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in monday.com by 20.2% during the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after acquiring an additional 188,800 shares during the period. Bank of New York Mellon Corp grew its position in shares of monday.com by 171.3% in the second quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock valued at $65,938,000 after purchasing an additional 172,919 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of monday.com by 34.4% in the second quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock worth $160,707,000 after purchasing an additional 170,800 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on MNDY shares. UBS Group raised their target price on monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Piper Sandler restated an “overweight” rating and issued a $300.00 price objective (up previously from $270.00) on shares of monday.com in a research note on Monday, August 12th. Wolfe Research started coverage on shares of monday.com in a research report on Tuesday, July 9th. They set an “outperform” rating and a $300.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of monday.com in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $294.84.

monday.com Price Performance

Shares of MNDY stock opened at $277.77 on Tuesday. The stock’s fifty day simple moving average is $251.30 and its 200 day simple moving average is $229.54. monday.com Ltd. has a one year low of $122.13 and a one year high of $285.64. The firm has a market cap of $13.41 billion, a price-to-earnings ratio of 730.97, a P/E/G ratio of 13.58 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, August 12th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.01 by $0.23. The company had revenue of $236.11 million for the quarter, compared to the consensus estimate of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. On average, research analysts anticipate that monday.com Ltd. will post 0.49 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.