LPL Financial LLC Trims Stock Position in monday.com Ltd. $MNDY

Key Points

• LPL Financial LLC reduced its stake in monday.com Ltd. by 26.0%, owning 12,878 shares valued at $3,131,000 after selling 4,527 shares in Q1.
• Institutional investors now hold 73.70% of monday.com stock, with notable increases in stakes from firms like China Universal Asset Management, ARK Investment Management, and Asset Management One.
• monday.com reported a Q1 earnings of $1.09 EPS, exceeding estimates, with revenue growth of 26.6% year-over-year, contributing to a market cap of approximately $8.92 billion.

LPL Financial LLC reduced its stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 26.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,878 shares of the company's stock after selling 4,527 shares during the quarter. LPL Financial LLC's holdings in monday.com were worth $3,131,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. WCM Investment Management LLC raised its stake in monday.com by 0.4% during the 1st quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock worth $1,007,550,000 after acquiring an additional 17,371 shares in the last quarter. Rubicon Global Capital Ltd acquired a new position in monday.com in the first quarter valued at $137,434,000. T. Rowe Price Investment Management Inc. acquired a new position in monday.com in the fourth quarter valued at $109,605,000. Assenagon Asset Management S.A. increased its stake in monday.com by 754.8% in the first quarter. Assenagon Asset Management S.A. now owns 440,622 shares of the company's stock valued at $107,142,000 after purchasing an additional 389,073 shares during the period. Finally, Driehaus Capital Management LLC increased its stake in monday.com by 8.9% in the fourth quarter. Driehaus Capital Management LLC now owns 410,695 shares of the company's stock valued at $96,694,000 after purchasing an additional 33,606 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Oppenheimer restated an "outperform" rating and issued a $300.00 price objective on shares of monday.com in a research note on Monday, August 11th. Baird R W upgraded shares of monday.com from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Piper Sandler dropped their price objective on shares of monday.com from $325.00 to $300.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. Jefferies Financial Group dropped their price objective on shares of monday.com from $360.00 to $330.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Finally, Scotiabank lifted their price objective on shares of monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, monday.com has an average rating of "Moderate Buy" and an average target price of $303.59.

monday.com Trading Down 1.1%

Shares of monday.com stock traded down $1.91 on Thursday, reaching $171.46. 1,318,817 shares of the stock were exchanged, compared to its average volume of 1,764,953. monday.com Ltd. has a 1-year low of $166.22 and a 1-year high of $342.64. The business has a fifty day moving average price of $266.37 and a two-hundred day moving average price of $272.33. The firm has a market capitalization of $8.71 billion, a PE ratio of 231.71, a PEG ratio of 5.83 and a beta of 1.27.

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

monday.com 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.