Rakuten Securities Inc. Sells 6,736 Shares of monday.com Ltd. (NASDAQ:MNDY)

Rakuten Securities Inc. reduced its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 78.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,850 shares of the company's stock after selling 6,736 shares during the quarter. Rakuten Securities Inc.'s holdings in monday.com were worth $450,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its holdings 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 purchasing an additional 1,189,858 shares in the last quarter. Rubicon Global Capital Ltd acquired a new stake in shares of monday.com in the 1st quarter worth about $137,434,000. CIBC Private Wealth Group LLC lifted its position in monday.com by 264.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock valued at $126,407,000 after acquiring an additional 403,255 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of monday.com by 23.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 499,950 shares of the company's stock worth $117,708,000 after purchasing an additional 96,222 shares during the last quarter. Finally, Norges Bank bought a new position in shares of monday.com in the fourth quarter valued at approximately $116,686,000. 73.70% of the stock is owned by institutional investors.

monday.com Stock Performance

Shares of MNDY traded down $1.97 on Wednesday, hitting $287.43. 362,640 shares of the stock traded hands, compared to its average volume of 743,273. The company has a market capitalization of $14.59 billion, a PE ratio of 293.30, a P/E/G ratio of 102.54 and a beta of 1.30. monday.com Ltd. has a one year low of $188.01 and a one year high of $342.64. The business has a 50 day simple moving average of $280.55 and a 200 day simple moving average of $267.20.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data 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. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The company had revenue of $282.25 million for the quarter, compared to the consensus estimate of $275.93 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The firm's revenue for the quarter was up 30.2% compared to the same quarter last year. On average, equities analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Loop Capital cut their price objective on shares of monday.com from $385.00 to $375.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their price target on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 price target on shares of monday.com in a report on Tuesday, May 13th. Scotiabank boosted their price target on shares of monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 2nd. Finally, DA Davidson reduced their target price on monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $347.09.

About monday.com

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.