monday.com Ltd. (NASDAQ:MNDY) Shares Purchased by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC has increased its stake in monday.com Ltd. by 23.1%, acquiring an additional 1,500 shares, bringing its total ownership to 8,000 shares valued at approximately $1.95 million.
• monday.com reported a quarterly earnings per share of $1.09, surpassing analysts' expectations, with revenue of $299.01 million, marking a year-over-year growth of 26.6%.
• Institutional investors and hedge funds collectively own 73.70% of monday.com's stock, indicating significant institutional interest in the company.

Eagle Global Advisors LLC raised its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 23.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,000 shares of the company's stock after acquiring an additional 1,500 shares during the quarter. Eagle Global Advisors LLC's holdings in monday.com were worth $1,945,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MNDY. Vanguard Group Inc. increased its position in shares of monday.com by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 69,888 shares of the company's stock valued at $16,454,000 after buying an additional 1,426 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of monday.com by 176.3% during the fourth quarter. Russell Investments Group Ltd. now owns 26,292 shares of the company's stock worth $6,190,000 after purchasing an additional 16,776 shares in the last quarter. Cerity Partners LLC increased its position in shares of monday.com by 43.4% during the fourth quarter. Cerity Partners LLC now owns 1,798 shares of the company's stock worth $466,000 after purchasing an additional 544 shares in the last quarter. Bank of Montreal Can increased its position in shares of monday.com by 62.0% during the fourth 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 in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of monday.com during the fourth quarter worth approximately $27,010,000. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Performance

Shares of monday.com stock traded down $1.18 during trading hours on Friday, hitting $175.74. The company's stock had a trading volume of 1,660,523 shares, compared to its average volume of 1,540,328. monday.com Ltd. has a twelve month low of $171.54 and a twelve month high of $342.64. The firm has a fifty day moving average of $276.72 and a 200-day moving average of $274.37. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 237.49, a P/E/G ratio of 5.95 and a beta of 1.27.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.25. monday.com had a return on equity of 6.32% and a net margin of 3.63%. The firm had revenue of $299.01 million for the quarter, compared to analyst estimates of $293.60 million. During the same quarter in the prior year, the company earned $0.94 EPS. monday.com's revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

MNDY has been the subject of several research reports. Loop Capital dropped their price target on monday.com from $385.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Bank of America dropped their price target on monday.com from $340.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday. Barclays dropped their price target on monday.com from $345.00 to $258.00 and set an "overweight" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target on monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Baird R W raised monday.com from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $305.18.

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.