Bank of New York Mellon Corp Decreases Holdings in monday.com Ltd. $MNDY

Key Points

• Bank of New York Mellon reduced its monday.com stake by 39.8% in the first quarter, selling 67,868 shares and retaining 102,727 shares valued at approximately $7.1 million. Institutional investors collectively own 73.70% of the company.
• monday.com shares rose 2.0% to $88.92, while the company reported quarterly revenue of $351.26 million, earnings per share of $1.15, a 9.17% net margin and a 5.10% return on equity.
• Analyst sentiment remains positive, with 17 Buy ratings, seven Holds and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $126.78.

Bank of New York Mellon Corp decreased its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 39.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,727 shares of the company's stock after selling 67,868 shares during the period. Bank of New York Mellon Corp owned about 0.20% of monday.com worth $7,099,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MNDY. AMS Capital Ltda bought a new stake in shares of monday.com during the 4th quarter valued at about $4,055,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of monday.com by 75.9% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 139,009 shares of the company's stock worth $20,512,000 after acquiring an additional 60,000 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in monday.com during the fourth quarter valued at about $6,200,000. NewEdge Wealth LLC bought a new position in monday.com during the 4th quarter worth approximately $5,635,000. Finally, Coronation Fund Managers Ltd. increased its stake in monday.com by 43.5% in the 4th quarter. Coronation Fund Managers Ltd. now owns 138,085 shares of the company's stock worth $20,376,000 after purchasing an additional 41,871 shares during the period. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Stock Up 2.0%

NASDAQ MNDY opened at $88.92 on Tuesday. The firm has a market capitalization of $4.55 billion, a PE ratio of 38.66, a P/E/G ratio of 4.36 and a beta of 1.24. The stock's 50 day moving average is $79.71 and its 200 day moving average is $80.67. monday.com Ltd. has a twelve month low of $57.50 and a twelve month high of $264.00.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MNDY shares. Tigress Financial lowered their price objective on shares of monday.com to $165.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. Wall Street Zen upgraded monday.com from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Guggenheim set a $130.00 target price on monday.com and gave the company a "buy" rating in a research note on Thursday, April 9th. Zacks Research downgraded monday.com from a "strong-buy" rating to a "hold" rating in a report on Friday, May 1st. Finally, BTIG Research dropped their price target on monday.com from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. Seventeen 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $126.78.

About monday.com

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.

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