monday.com Ltd. (NASDAQ:MNDY) Shares Sold by LPL Financial LLC

LPL Financial LLC cut its stake in monday.com Ltd. (NASDAQ:MNDY) by 26.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,878 shares of the company’s stock after selling 4,527 shares during the period. LPL Financial LLC’s holdings in monday.com were worth $3,131,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MNDY. China Universal Asset Management Co. Ltd. raised its stake in shares of monday.com by 5.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,700 shares of the company’s stock valued at $4,304,000 after purchasing an additional 900 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of monday.com by 25.7% during the first quarter. ARK Investment Management LLC now owns 8,030 shares of the company’s stock valued at $1,953,000 after purchasing an additional 1,643 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of monday.com by 109.2% during the first quarter. Asset Management One Co. Ltd. now owns 27,231 shares of the company’s stock valued at $6,647,000 after purchasing an additional 14,213 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in shares of monday.com during the first quarter valued at about $221,000. Finally, Rubicon Global Capital Ltd bought a new stake in shares of monday.com during the first quarter valued at about $137,434,000. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Trading Down 0.7%

Shares of NASDAQ MNDY opened at $175.74 on Friday. The stock has a fifty day simple moving average of $276.72 and a two-hundred day simple moving average of $274.54. monday.com Ltd. has a 1-year low of $171.54 and a 1-year high of $342.64. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 237.49, a price-to-earnings-growth ratio of 5.91 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 11th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.25. The firm had revenue of $299.01 million during the quarter, compared to analyst estimates of $293.60 million. monday.com had a return on equity of 6.32% and a net margin of 3.63%. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. Analysts forecast that monday.com Ltd. will post 0.46 EPS for the current year.

Wall Street Analyst Weigh In

MNDY has been the topic of several research reports. Loop Capital dropped their price target on shares of monday.com from $385.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Robert W. Baird dropped their price target on shares of monday.com from $310.00 to $240.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Baird R W upgraded shares of monday.com from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. Piper Sandler dropped their price target on shares of monday.com from $325.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 12th. Finally, UBS Group dropped their price target on shares of monday.com from $310.00 to $215.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, monday.com has an average rating of “Moderate Buy” and a consensus target price of $305.18.

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.