monday.com Ltd. (NASDAQ:MNDY) Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. trimmed its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 78.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 recently modified their holdings of the company. FMR LLC boosted its position in monday.com by 78.7% in the 4th quarter. FMR LLC now owns 2,701,952 shares of the company's stock valued at $636,147,000 after buying an additional 1,189,858 shares during the period. Rubicon Global Capital Ltd purchased a new stake in shares of monday.com in the first quarter valued at approximately $137,434,000. CIBC Private Wealth Group LLC boosted its holdings in shares of monday.com by 264.1% in 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 during the period. Arrowstreet Capital Limited Partnership grew its stake in 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 in the last quarter. Finally, Norges Bank purchased a new position in monday.com during the 4th quarter worth $116,686,000. 73.70% of the stock is owned by institutional investors.

monday.com Trading Down 2.4%

Shares of MNDY stock traded down $6.97 during trading hours on Friday, reaching $280.46. 525,026 shares of the company's stock were exchanged, compared to its average volume of 742,403. monday.com Ltd. has a 1 year low of $188.01 and a 1 year high of $342.64. The stock has a market cap of $14.24 billion, a PE ratio of 286.18, a PEG ratio of 104.01 and a beta of 1.30. The stock's fifty day moving average price is $281.43 and its two-hundred day moving average price is $267.29.

monday.com (NASDAQ:MNDY - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate 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 previous year, the firm earned $0.61 EPS. monday.com's revenue was up 30.2% compared to the same quarter last year. On average, equities analysts expect that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MNDY shares. Wells Fargo & Company set a $365.00 target price on monday.com and gave the stock an "overweight" rating in a report on Friday, June 13th. Loop Capital lowered their price objective on shares of monday.com from $385.00 to $375.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley initiated coverage on shares of monday.com in a report on Tuesday. They set an "equal weight" rating and a $330.00 target price on the stock. Jefferies Financial Group reduced their price target on shares of monday.com from $400.00 to $360.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Piper Sandler upped their price target on shares of monday.com from $305.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. According to data from MarketBeat, monday.com presently has a consensus rating of "Moderate Buy" and an average price target of $347.09.

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.