monday.com Ltd. (NASDAQ:MNDY) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 70.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,189 shares of the company's stock after selling 2,811 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in monday.com were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MNDY. Oppenheimer & Co. Inc. raised its stake in shares of monday.com by 24.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 6,765 shares of the company's stock valued at $1,593,000 after acquiring an additional 1,318 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in monday.com during the 4th quarter worth $245,000. Bank of Montreal Can increased its holdings in monday.com by 62.0% during the 4th quarter. Bank of Montreal Can now owns 22,097 shares of the company's stock worth $5,203,000 after purchasing an additional 8,454 shares during the period. Bailard Inc. raised its position in monday.com by 147.5% in the 4th quarter. Bailard Inc. now owns 7,055 shares of the company's stock valued at $1,661,000 after purchasing an additional 4,204 shares in the last quarter. Finally, Rubicon Global Capital Ltd acquired a new stake in monday.com in the 1st quarter valued at about $137,434,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MNDY has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of monday.com from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Loop Capital dropped their price objective on shares of monday.com from $385.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Piper Sandler restated an "overweight" rating and issued a $325.00 price objective on shares of monday.com in a report on Friday. DA Davidson lowered their target price on shares of monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Needham & Company LLC restated a "buy" rating and issued a $400.00 price target on shares of monday.com in a research note on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. According to MarketBeat.com, monday.com presently has an average rating of "Moderate Buy" and an average target price of $347.09.

monday.com Trading Up 2.1%

Shares of monday.com stock traded up $6.52 during trading on Monday, reaching $314.48. The company's stock had a trading volume of 502,434 shares, compared to its average volume of 738,773. The company has a 50-day moving average price of $287.44 and a two-hundred day moving average price of $267.52. monday.com Ltd. has a fifty-two week low of $188.01 and a fifty-two week high of $342.64. The firm has a market cap of $15.97 billion, a PE ratio of 320.90, a P/E/G ratio of 111.43 and a beta of 1.30.

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

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.