Inspire Investing LLC Invests $870,000 in monday.com Ltd. (NASDAQ:MNDY)

Inspire Investing LLC bought a new position in shares of monday.com Ltd. (NASDAQ:MNDY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,131 shares of the company’s stock, valued at approximately $870,000.

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

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $291.73 on Tuesday. The firm has a fifty day moving average of $261.99 and a 200 day moving average of $233.26. monday.com Ltd. has a 52-week low of $122.13 and a 52-week high of $293.88. The firm has a market capitalization of $14.08 billion, a PE ratio of 767.71, a price-to-earnings-growth ratio of 13.68 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The firm had revenue of $236.11 million for the quarter, compared to the consensus estimate of $227.96 million. On average, sell-side analysts forecast that monday.com Ltd. will post 0.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on MNDY shares. TD Cowen upped their price objective on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Loop Capital increased their price objective on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. DA Davidson upped their target price on shares of monday.com from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Robert W. Baird increased their price target on shares of monday.com from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, Baird R W upgraded monday.com to a “hold” rating in a research report on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $297.60.

About monday.com

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.