monday.com Ltd. $MNDY Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 9.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,121 shares of the company’s stock after selling 6,169 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in monday.com were worth $4,086,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MNDY. NewEdge Advisors LLC boosted its stake in shares of monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after acquiring an additional 106 shares during the last quarter. Advisory Services Network LLC acquired a new position in monday.com in the 3rd quarter valued at about $28,000. Quarry LP acquired a new position in monday.com in the 4th quarter valued at about $29,000. Abound Wealth Management purchased a new position in monday.com in the 4th quarter valued at about $30,000. Finally, Huntington National Bank lifted its holdings in monday.com by 6,040.0% in the 4th quarter. Huntington National Bank now owns 307 shares of the company’s stock valued at $45,000 after purchasing an additional 302 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MNDY. Barclays lifted their price target on shares of monday.com from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Canaccord Genuity Group reduced their price objective on shares of monday.com from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. TD Cowen raised their target price on shares of monday.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. BTIG Research lowered their target price on shares of monday.com from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Oppenheimer set a $115.00 price target on monday.com in a report on Monday, May 11th. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and an average target price of $126.04.

monday.com Stock Down 5.8%

NASDAQ:MNDY opened at $81.84 on Wednesday. The company has a market cap of $4.19 billion, a P/E ratio of 35.58, a P/E/G ratio of 4.35 and a beta of 1.26. The firm’s 50 day moving average is $78.03 and its two-hundred day moving average is $87.06. monday.com Ltd. has a fifty-two week low of $57.50 and a fifty-two week high of $296.93.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The firm had revenue of $351.26 million for the quarter. Research analysts forecast that monday.com Ltd. will post 1.59 earnings per share for the current fiscal year.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.