Bank of New York Mellon Corp Sells 13,791 Shares of monday.com Ltd. (NASDAQ:MNDY)

Bank of New York Mellon Corp lessened its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 5.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 241,664 shares of the company's stock after selling 13,791 shares during the period. Bank of New York Mellon Corp owned 0.48% of monday.com worth $58,763,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MNDY. Grove Bank & Trust acquired a new stake in shares of monday.com during the 1st quarter worth approximately $30,000. Signaturefd LLC boosted its stake in monday.com by 157.1% during the fourth quarter. Signaturefd LLC now owns 144 shares of the company's stock worth $34,000 after acquiring an additional 88 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in monday.com by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock worth $40,000 after purchasing an additional 70 shares during the period. Loomis Sayles & Co. L P bought a new stake in monday.com in the fourth quarter valued at $44,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of monday.com by 32.7% during the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 73.70% of the company's stock.

monday.com Trading Up 1.0%

NASDAQ:MNDY traded up $2.84 during trading hours on Wednesday, reaching $287.05. The company had a trading volume of 421,136 shares, compared to its average volume of 804,722. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 292.91, a PEG ratio of 105.27 and a beta of 1.30. The firm's 50 day moving average price is $295.69 and its 200-day moving average price is $272.17. monday.com Ltd. has a 52 week low of $188.01 and a 52 week high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.40. The company had revenue of $282.25 million during the quarter, compared to analysts' expectations of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. monday.com's revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MNDY shares. DA Davidson reduced their price objective on shares of monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a report on Monday, April 14th. Wall Street Zen lowered monday.com from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Barclays lowered their price objective on monday.com from $360.00 to $345.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. UBS Group cut their target price on monday.com from $350.00 to $310.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Scotiabank raised their price objective on monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, monday.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.23.

monday.com Company 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.