monday.com Ltd. (NASDAQ:MNDY) Holdings Increased by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC increased its stake in monday.com Ltd. by 25.7%, owning 8,030 shares worth approximately $1.95 million after acquiring additional shares in the first quarter.
• Multiple institutional investors also boosted their holdings in monday.com, with China Universal Asset Management and Asset Management One increasing their stakes by 5.4% and 109.2% respectively during the same period.
• Analysts have mixed ratings for monday.com, with price targets ranging from $310.00 to $375.00, and an average rating of "Moderate Buy."

ARK Investment Management LLC boosted its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 25.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 8,030 shares of the company's stock after purchasing an additional 1,643 shares during the period. ARK Investment Management LLC's holdings in monday.com were worth $1,953,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of 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 acquiring an additional 1,189,858 shares in the last quarter. Rubicon Global Capital Ltd acquired a new position in shares of monday.com in the first quarter worth $137,434,000. Norges Bank acquired a new position in shares of monday.com in the fourth quarter worth $116,686,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of monday.com in the fourth quarter worth $109,605,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of monday.com by 264.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock worth $126,407,000 after acquiring an additional 403,255 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

Analyst Ratings Changes

MNDY has been the subject of several recent analyst reports. Scotiabank lifted their price objective on shares of monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 2nd. Jefferies Financial Group reduced their price target on shares of monday.com from $400.00 to $360.00 and set a "buy" rating for the company in a research report on Monday, March 31st. UBS Group reduced their price target on shares of monday.com from $350.00 to $310.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Canaccord Genuity Group dropped their price objective on shares of monday.com from $375.00 to $350.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Loop Capital cut their price target on shares of monday.com from $385.00 to $375.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat.com, monday.com has a consensus rating of "Moderate Buy" and a consensus price target of $349.23.

monday.com Stock Down 1.3%

Shares of MNDY stock traded down $3.61 during mid-day trading on Tuesday, reaching $280.45. The company's stock had a trading volume of 579,603 shares, compared to its average volume of 775,307. The company's 50 day simple moving average is $296.13 and its 200-day simple moving average is $276.10. monday.com Ltd. has a 12-month low of $188.01 and a 12-month high of $342.64. The firm has a market capitalization of $14.24 billion, a PE ratio of 286.17, a price-to-earnings-growth ratio of 105.75 and a beta of 1.30.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.70 by $0.40. The business had revenue of $282.25 million during the quarter, compared to analyst estimates of $275.93 million. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The company's quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. As a group, research analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

monday.com Profile

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.