Public Employees Retirement System of Ohio Sells 16,795 Shares of monday.com Ltd. (NASDAQ:MNDY)

Public Employees Retirement System of Ohio lowered its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 72.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,305 shares of the company's stock after selling 16,795 shares during the period. Public Employees Retirement System of Ohio's holdings in monday.com were worth $1,484,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MNDY. FMR LLC grew its position in shares of monday.com by 78.7% in the 4th quarter. FMR LLC now owns 2,701,952 shares of the company's stock worth $636,147,000 after buying an additional 1,189,858 shares during the period. Norges Bank purchased a new stake in monday.com in the fourth quarter worth about $116,686,000. T. Rowe Price Investment Management Inc. bought a new position in shares of monday.com during the fourth quarter valued at approximately $109,605,000. CIBC Private Wealth Group LLC increased its stake in shares of monday.com by 264.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock valued at $126,407,000 after purchasing an additional 403,255 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of monday.com by 7,282.0% during the fourth quarter. Neuberger Berman Group LLC now owns 303,992 shares of the company's stock valued at $71,572,000 after purchasing an additional 299,874 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Stock Down 0.7%

monday.com stock traded down $2.20 during midday trading on Wednesday, reaching $305.19. 422,942 shares of the stock traded hands, compared to its average volume of 746,773. The stock has a market cap of $15.50 billion, a P/E ratio of 508.65, a PEG ratio of 16.53 and a beta of 1.32. The stock's fifty day moving average is $267.61 and its 200-day moving average is $265.61. monday.com Ltd. has a 12 month low of $188.01 and a 12 month high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.40. The firm had revenue of $282.25 million during the quarter, compared to analyst estimates of $275.93 million. monday.com had a net margin of 3.33% and a return on equity of 6.22%. monday.com's revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. On average, equities analysts predict that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MNDY shares. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price objective on shares of monday.com in a research note on Tuesday, May 13th. Loop Capital lowered 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. Wall Street Zen upgraded shares of monday.com from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Barclays dropped their price target on shares of monday.com from $360.00 to $345.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald boosted their price objective on shares of monday.com from $292.00 to $380.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $346.50.

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.