Virtus Advisers LLC Purchases 10,641 Shares of monday.com Ltd. $MNDY

Virtus Advisers LLC purchased a new position in shares of monday.com Ltd. (NASDAQ:MNDY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,641 shares of the company’s stock, valued at approximately $835,000.

Other large investors have also modified their holdings of the company. Diversified Trust Co acquired a new position in monday.com during the 3rd quarter valued at about $421,000. Russell Investments Group Ltd. increased its stake in shares of monday.com by 4,477.7% in the third quarter. Russell Investments Group Ltd. now owns 178,530 shares of the company’s stock valued at $13,946,000 after purchasing an additional 174,630 shares during the period. First Command Advisory Services Inc. acquired a new stake in shares of monday.com in the third quarter valued at approximately $200,000. Commonwealth Equity Services LLC increased its stake in shares of monday.com by 56.8% in the third quarter. Commonwealth Equity Services LLC now owns 4,746 shares of the company’s stock valued at $372,000 after purchasing an additional 1,720 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of monday.com during the third quarter valued at approximately $1,517,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MNDY. UBS Group reduced their price objective on monday.com from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, November 10th. Wall Street Zen upgraded monday.com from a “hold” rating to a “buy” rating in a research report on Sunday, November 1st. Morgan Stanley lowered their target price on monday.com from $115.00 to $109.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 10th. Citigroup cut their target price on monday.com from $132.00 to $127.00 and set a “buy” rating on the stock in a research note on Tuesday, November 10th. Finally, JPMorgan Chase & Co. reduced their price target on monday.com from $87.00 to $84.00 and set a “neutral” rating for the company in a research report on Tuesday, November 10th. Nine equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $102.87.

monday.com Trading Up 1.2%

MNDY traded up $0.96 on Friday, reaching $78.00. The company had a trading volume of 835,576 shares, compared to its average volume of 1,223,910. The company has a market capitalization of $3.99 billion, a P/E ratio of 26.90, a PEG ratio of 1.39 and a beta of 1.06. The company has a fifty day moving average of $88.70 and a 200-day moving average of $81.80. monday.com Ltd. has a one year low of $57.50 and a one year high of $164.49.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 9th. The company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.73. monday.com had a net margin of 10.05% and a return on equity of 16.75%. The company had revenue of $377.54 million for the quarter, compared to the consensus estimate of $369.17 million. During the same period in the previous year, the firm earned $1.16 EPS. monday.com’s revenue was up 19.1% on a year-over-year basis. Research analysts predict that monday.com Ltd. will post 2.34 EPS for the current year.

Insider Activity

In related news, Director Aviad Eyal sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total transaction of $200,080.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 company insiders.

monday.com Profile

monday.com Ltd. is a software company that provides a cloud-based platform for organizations to plan, manage and track work. Founded in 2012 as dapulse, the company adopted the monday.com name in 2017. Its products include monday work management, monday CRM, monday dev and monday service. The platform offers tools for project and workflow management, customer relationship management, software development and service operations, with features for collaboration, automation and reporting. Headquartered in Tel Aviv, Israel, monday.com serves customers across a range of industries and geographies.