State of New Jersey Common Pension Fund D Grows Stake in monday.com Ltd. (NASDAQ:MNDY)

State of New Jersey Common Pension Fund D increased its stake in monday.com Ltd. (NASDAQ:MNDY) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,691 shares of the company’s stock after acquiring an additional 1,700 shares during the period. State of New Jersey Common Pension Fund D’s holdings in monday.com were worth $4,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of monday.com during the first quarter valued at approximately $565,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of monday.com during the first quarter valued at approximately $1,204,000. Oppenheimer Asset Management Inc. bought a new stake in shares of monday.com during the first quarter valued at approximately $446,000. Swiss National Bank raised its stake in shares of monday.com by 4.1% during the first quarter. Swiss National Bank now owns 86,400 shares of the company’s stock valued at $19,515,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of monday.com by 63.9% during the first quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock valued at $24,243,000 after acquiring an additional 41,840 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Wall Street Analyst Weigh In

MNDY has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Oppenheimer boosted their price objective on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Capital One Financial assumed coverage on shares of monday.com in a report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price target on the stock. Finally, Robert W. Baird lifted their price target on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and a consensus price target of $310.10.

monday.com Stock Performance

NASDAQ:MNDY opened at $260.59 on Wednesday. monday.com Ltd. has a one year low of $150.10 and a one year high of $324.99. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 325.74, a PEG ratio of 15.22 and a beta of 1.31. The firm’s fifty day moving average is $279.27 and its two-hundred day moving average is $247.35.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same period in the prior year, the company earned $0.15 earnings per share. The firm’s revenue was up 49.5% on a year-over-year basis. As a group, equities research analysts predict that monday.com Ltd. will post 0.5 earnings per share for the current fiscal year.

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.