ARK Investment Management LLC grew its holdings in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 25.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,030 shares of the company's stock after buying an additional 1,643 shares during the period. ARK Investment Management LLC's holdings in monday.com were worth $1,953,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. WCM Investment Management LLC grew its stake in shares of monday.com by 0.4% during the 1st quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock valued at $1,007,550,000 after acquiring an additional 17,371 shares during the period. FMR LLC increased its stake in monday.com by 78.7% in the fourth quarter. FMR LLC now owns 2,701,952 shares of the company's stock worth $636,147,000 after purchasing an additional 1,189,858 shares during the period. Rubicon Global Capital Ltd bought a new position in shares of monday.com during the 1st quarter worth $137,434,000. CIBC Private Wealth Group LLC grew its position in shares of monday.com by 264.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock worth $126,407,000 after buying an additional 403,255 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in monday.com by 23.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 499,950 shares of the company's stock valued at $117,708,000 after purchasing an additional 96,222 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company's stock.
Analysts Set New Price Targets
Several brokerages have weighed in on MNDY. Morgan Stanley started coverage on monday.com in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $330.00 price target for the company. UBS Group cut their price objective on monday.com from $350.00 to $310.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. DA Davidson dropped their price target on monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Canaccord Genuity Group dropped their target price on monday.com from $375.00 to $350.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 price target on shares of monday.com in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $349.23.
Get Our Latest Stock Report on MNDY
monday.com Price Performance
Shares of NASDAQ:MNDY traded down $2.63 during trading on Wednesday, reaching $277.83. The stock had a trading volume of 147,765 shares, compared to its average volume of 773,431. monday.com Ltd. has a 52 week low of $188.01 and a 52 week high of $342.64. The business's 50-day moving average price is $295.70 and its 200 day moving average price is $276.13. The stock has a market capitalization of $14.11 billion, a PE ratio of 283.49, a P/E/G ratio of 102.79 and a beta of 1.30.
monday.com (NASDAQ:MNDY - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.40. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The firm had revenue of $282.25 million during the quarter, compared to analyst estimates of $275.93 million. During the same period in the prior year, the business earned $0.61 EPS. The company's revenue for the quarter was up 30.2% compared to the same quarter last year. Analysts forecast that monday.com Ltd. will post 0.46 EPS for the current year.
monday.com Company Profile
(
Free Report)
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.
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