monday.com (NASDAQ:MNDY) Stock Sees Unusually High Put Option Buying

monday.com Ltd. (NASDAQ:MNDY) was the recipient of unusually large options trading activity on Monday. Stock traders purchased 14,663 put options on the stock. This represents an increase of approximately 550% compared to the typical volume of 2,257 put options.

Insider Transactions at monday.com

In other news, Director Aviad Eyal sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were 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 approximately $20,353,638.20. The trade was a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MNDY. Renaissance Technologies LLC grew 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 worth $150,797,000 after purchasing an additional 1,052,900 shares during the period. RPD Fund Management LLC bought a new stake in monday.com in the first quarter valued at $17,529,000. Russell Investments Group Ltd. raised its holdings in shares of monday.com by 4,477.7% during the third quarter. Russell Investments Group Ltd. now owns 178,530 shares of the company’s stock valued at $13,946,000 after purchasing an additional 174,630 shares during the period. Bank of America Corp DE raised its holdings in shares of 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 purchasing an additional 49,002 shares during the period. Finally, Swiss National Bank boosted its position in shares of monday.com by 28.6% during the 1st quarter. Swiss National Bank now owns 159,100 shares of the company’s stock worth $10,995,000 after purchasing an additional 35,400 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

Key Stories Impacting monday.com

Here are the key news stories impacting monday.com this week:

• Positive Sentiment: Q3 earnings beat estimates: monday.com reported $2.14 per share versus analysts’ consensus of about $1.41–$1.43. Revenue of $377.54 million also topped forecasts of $369.17 million and grew 19.1% year over year. Monday.com Tops Q3 Earnings and Revenue Estimates
• Negative Sentiment: Despite the earnings and sales beats, the company’s revenue forecast fell short of expectations, raising concerns about the pace of future growth. That outlook appears to be the main reason shares were under pressure. Monday.com Stock Drops. Strong Earnings Come With a Growth Warning.
• Negative Sentiment: Traders bought 14,663 put options on Monday, about 550% above the average daily volume of 2,257. The surge may indicate increased hedging or bearish positioning, though options activity alone does not establish traders’ outlook.

monday.com Stock Down 7.3%

MNDY traded down $6.45 during trading on Monday, hitting $81.48. The company’s stock had a trading volume of 1,723,550 shares, compared to its average volume of 1,753,541. monday.com has a twelve month low of $57.50 and a twelve month high of $169.76. The stock’s fifty day moving average price is $90.72 and its 200-day moving average price is $83.05. The firm has a market capitalization of $4.17 billion, a P/E ratio of 34.68, a PEG ratio of 1.98 and a beta of 1.06.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 9th. The company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.73. The firm had revenue of $377.54 million for the quarter, compared to analysts’ expectations of $369.17 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 EPS. Equities research analysts expect that monday.com will post 2.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MNDY shares. TD Cowen cut shares of monday.com from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $110.00 to $105.00 in a research report on Tuesday, November 3rd. Weiss Ratings upgraded shares of monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 15th. Jefferies Financial Group restated a “hold” rating and issued a $95.00 target price on shares of monday.com in a report on Monday, August 10th. BTIG Research reaffirmed a “buy” rating and set a $105.00 price target on shares of monday.com in a research report on Thursday, October 29th. Finally, Guggenheim reiterated a “buy” rating and set a $130.00 price target on shares of monday.com in a report on Tuesday, November 3rd. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, monday.com has a consensus rating of “Hold” and a consensus target price of $107.35.

monday.com Company Profile

monday.com Ltd. is a software company that provides a cloud-based platform for organizations to plan, manage and track work. Founded in 2012 as dapulse, the company adopted the monday.com name in 2017.

Its products include monday work management, monday CRM, monday dev and monday service. The platform offers tools for project and workflow management, customer relationship management, software development and service operations, with features for collaboration, automation and reporting.

Headquartered in Tel Aviv, Israel, monday.com serves customers across a range of industries and geographies.