Inflection Point Investments LLP increased its stake in Monday.com (NASDAQ:MNDY) by 11,200 shares in the third quarter, adding nearly $1 million in value, according to a Nov. 21, SEC filing. The fund now holds a total of 21,300 shares valued at $4.1 million as of Sept. 30, representing 8.8% of reportable assets. Monday.com’s shares were priced at $145.23 as of Nov. 20, down 44.2% over the past year, underperforming the S&P 500 total return by 56.1 percentage points.

Monday.com released third-quarter results, showing a 26% year-over-year revenue increase to $316.9 million. Despite positive results, the stock saw a selloff due to guidance for fourth-quarter revenue growth of 22% to 23%. Inflection Point Investments, with a concentrated equity portfolio, doubled its share ownership in Monday.com during the third quarter, indicating confidence in the company’s long-term prospects.

Read more at Nasdaq: Inflection Point More than Doubles Monday.com Shares