monday.com (NASDAQ:MNDY) Director Aviad Eyal Sells 2,000 Shares of Stock

monday.com Ltd. (NASDAQ:MNDY) Director Aviad Eyal sold 2,000 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total value of $200,080.00. Following the transaction, the director owned 203,455 shares in the company, valued at $20,353,638.20. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

monday.com Trading Up 6.7%

Shares of NASDAQ:MNDY opened at $106.86 on Friday. monday.com Ltd. has a 12-month low of $57.50 and a 12-month high of $210.49. The stock’s 50-day moving average price is $89.46 and its two-hundred day moving average price is $81.39. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 45.47, a PEG ratio of 2.26 and a beta of 1.14.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The business had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. During the same period in the prior year, the firm posted $1.09 EPS. The company’s revenue was up 21.9% on a year-over-year basis. As a group, research analysts forecast that monday.com Ltd. will post 2.34 earnings per share for the current fiscal year.

Institutional Trading of monday.com

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after buying an additional 1,052,900 shares during the period. RPD Fund Management LLC acquired a new position in monday.com during the first quarter valued at approximately $17,529,000. Bank of America Corp DE lifted its position in monday.com by 33.6% during the first quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock valued at $13,451,000 after buying an additional 49,002 shares in the last quarter. Swiss National Bank lifted its position in monday.com by 28.6% during the first quarter. Swiss National Bank now owns 159,100 shares of the company’s stock valued at $10,995,000 after buying an additional 35,400 shares in the last quarter. Finally, Ardmore Road Asset Management LP grew its stake in monday.com by 18.1% during the first quarter. Ardmore Road Asset Management LP now owns 118,700 shares of the company’s stock worth $8,203,000 after buying an additional 18,234 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. BTIG Research reiterated a “buy” rating and issued a $105.00 price target on shares of monday.com in a report on Monday, August 10th. Jefferies Financial Group reissued a “hold” rating and set a $95.00 price objective on shares of monday.com in a research note on Monday, August 10th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of monday.com in a report on Tuesday, August 11th. Wolfe Research lowered monday.com from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 11th. Finally, Cantor Fitzgerald cut monday.com from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $112.00 to $90.00 in a report on Monday, August 10th. Twelve investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $111.70.

monday.com Company Profile

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.