Polen Capital Management LLC Makes New $12.52 Million Investment in monday.com Ltd. (NASDAQ:MNDY)

Polen Capital Management LLC purchased a new position in monday.com Ltd. (NASDAQ:MNDY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 53,186 shares of the company’s stock, valued at approximately $12,522,000. Polen Capital Management LLC owned about 0.11% of monday.com at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC raised its holdings in shares of monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after buying an additional 798,791 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of monday.com by 13.7% in the fourth quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock worth $195,606,000 after buying an additional 100,333 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of monday.com by 2.4% in the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after acquiring an additional 14,304 shares during the period. State Street Corp increased its stake in shares of monday.com by 3.8% in the third quarter. State Street Corp now owns 587,879 shares of the company’s stock worth $163,295,000 after acquiring an additional 21,585 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of monday.com by 2.9% in the third quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock worth $150,079,000 after acquiring an additional 15,300 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Trading Up 5.6 %

NASDAQ:MNDY opened at $255.87 on Monday. The company’s 50-day moving average price is $265.97 and its 200-day moving average price is $269.63. The company has a market cap of $12.35 billion, a P/E ratio of 426.45, a P/E/G ratio of 16.53 and a beta of 1.27. monday.com Ltd. has a twelve month low of $174.75 and a twelve month high of $342.64.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. On average, analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MNDY has been the topic of a number of research reports. Jefferies Financial Group increased their price objective on shares of monday.com from $300.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Loop Capital cut their price objective on shares of monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Wells Fargo & Company increased their price objective on shares of monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. DA Davidson increased their price objective on shares of monday.com from $300.00 to $350.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Finally, Canaccord Genuity Group raised their price target on shares of monday.com from $310.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, monday.com has an average rating of “Moderate Buy” and an average target price of $358.32.

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.