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

Sumitomo Mitsui Trust Group Inc. lessened its holdings in monday.com Ltd. (NASDAQ:MNDY) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,121 shares of the company’s stock after selling 6,169 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.12% of monday.com worth $4,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after buying an additional 106 shares in the last quarter. American Century Companies Inc. raised its position in monday.com by 75.3% in the second quarter. American Century Companies Inc. now owns 4,192 shares of the company’s stock worth $1,318,000 after acquiring an additional 1,801 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after acquiring an additional 65 shares during the period. Cerity Partners LLC lifted its holdings in monday.com by 28.8% in the second quarter. Cerity Partners LLC now owns 2,596 shares of the company’s stock valued at $816,000 after acquiring an additional 580 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of monday.com during the 2nd quarter worth $398,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MNDY has been the topic of a number of recent analyst reports. TD Cowen upped their price target on shares of monday.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Zacks Research cut shares of monday.com from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. BTIG Research decreased their price objective on shares of monday.com from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday. UBS Group lowered their target price on shares of monday.com from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of monday.com in a report on Tuesday, May 12th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued 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 a consensus price target of $126.04.

monday.com Stock Down 5.8%

Shares of MNDY stock opened at $81.84 on Wednesday. The stock 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. monday.com Ltd. has a fifty-two week low of $57.50 and a fifty-two week high of $296.93. The business has a fifty day simple moving average of $78.03 and a 200-day simple moving average of $87.06.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Friday, March 13th. The company reported $1.15 EPS for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The business had revenue of $351.26 million for the quarter. On average, sell-side analysts anticipate that monday.com Ltd. will post 1.59 earnings per share for the current year.

monday.com Profile

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.