Driehaus Capital Management LLC Sells 182,789 Shares of monday.com Ltd. $MNDY

Key Points

• Driehaus Capital Management LLC reduced its stake in monday.com Ltd. by 44.5%, selling 182,789 shares during the first quarter, and now holds 0.45% of the company worth approximately $55.4 million.
• In the same period, several other hedge funds increased their stakes, with JPMorgan Chase boosting its position by 102.5% to own roughly $409 million in shares.
• monday.com reported a significant quarterly earnings performance, beating estimates with $1.09 earnings per share and a revenue of $299 million, marking a 26.6% increase year-over-year.

Driehaus Capital Management LLC lessened its stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 44.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 227,906 shares of the company's stock after selling 182,789 shares during the period. Driehaus Capital Management LLC owned about 0.45% of monday.com worth $55,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. WCM Investment Management LLC raised its position in monday.com by 0.4% during the first quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock valued at $1,007,550,000 after buying an additional 17,371 shares during the period. Price T Rowe Associates Inc. MD boosted its position in monday.com by 45.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,401,580 shares of the company's stock worth $583,969,000 after acquiring an additional 745,686 shares during the period. JPMorgan Chase & Co. grew its stake in monday.com by 102.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,682,013 shares of the company's stock valued at $408,999,000 after acquiring an additional 851,231 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of monday.com by 98.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 924,325 shares of the company's stock valued at $224,759,000 after purchasing an additional 458,794 shares during the period. Finally, Rubicon Global Capital Ltd purchased a new stake in shares of monday.com in the first quarter worth approximately $137,434,000. Institutional investors and hedge funds own 73.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Cowen reaffirmed a "buy" rating on shares of monday.com in a research report on Tuesday, August 12th. UBS Group decreased their price objective on shares of monday.com from $310.00 to $215.00 and set a "neutral" rating for the company in a report on Tuesday, August 12th. KeyCorp restated an "overweight" rating and issued a $330.00 target price on shares of monday.com in a report on Monday, August 11th. JPMorgan Chase & Co. reduced their target price on monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Wall Street Zen lowered monday.com from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $303.59.

monday.com Stock Down 0.7%

Shares of MNDY stock traded down $1.25 during trading hours on Wednesday, reaching $186.09. 444,825 shares of the company's stock were exchanged, compared to its average volume of 933,328. monday.com Ltd. has a fifty-two week low of $166.22 and a fifty-two week high of $342.64. The stock has a market capitalization of $9.45 billion, a P/E ratio of 251.81, a P/E/G ratio of 11.60 and a beta of 1.25. The business has a fifty day moving average price of $249.78 and a 200-day moving average price of $266.06.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.25. monday.com had a return on equity of 6.32% and a net margin of 3.63%.The company had revenue of $299.01 million during the quarter, compared to analyst estimates of $293.60 million. During the same period in the previous year, the company earned $0.94 earnings per share. The company's quarterly revenue was up 26.6% compared to the same quarter last year. monday.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts expect that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

About monday.com

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.