Envestnet Asset Management Inc. Sells 23,876 Shares of monday.com Ltd. (NASDAQ:MNDY)

Envestnet Asset Management Inc. decreased its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 13.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,923 shares of the company's stock after selling 23,876 shares during the period. Envestnet Asset Management Inc. owned about 0.30% of monday.com worth $36,698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust bought a new stake in monday.com in the first quarter valued at approximately $30,000. Signaturefd LLC raised its stake in monday.com by 157.1% in the fourth quarter. Signaturefd LLC now owns 144 shares of the company's stock valued at $34,000 after buying an additional 88 shares during the period. First Horizon Advisors Inc. raised its stake in monday.com by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock valued at $40,000 after buying 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 approximately $44,000. Finally, Farther Finance Advisors LLC raised its stake in monday.com by 32.7% in the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after buying an additional 52 shares during the period. Institutional investors own 73.70% of the company's stock.

monday.com Stock Up 1.0%

MNDY stock traded up $2.79 during mid-day trading on Thursday, reaching $289.84. 279,806 shares of the company traded hands, compared to its average volume of 737,168. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 295.76, a P/E/G ratio of 103.87 and a beta of 1.30. monday.com Ltd. has a fifty-two week low of $188.01 and a fifty-two week high of $342.64. The firm's 50 day moving average price is $296.06 and its 200 day moving average price is $272.65.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly 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. The business had revenue of $282.25 million during the quarter, compared to the consensus estimate of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The company's quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. On average, analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MNDY. Wells Fargo & Company set a $365.00 price objective on monday.com and gave the company an "overweight" rating in a research note on Friday, June 13th. Loop Capital decreased their target price on monday.com from $385.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. DA Davidson decreased their target price on monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Jefferies Financial Group decreased their target price on monday.com from $400.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Barclays decreased their target price on monday.com from $360.00 to $345.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.