RPD Fund Management LLC Invests $17.53 Million in monday.com Ltd. $MNDY

Key Points

• RPD Fund Management initiated a $17.53 million position in monday.com, purchasing 253,636 shares. The stock now represents about 5.7% of the fund’s portfolio and 0.50% of monday.com’s shares.
• Institutional investors own 73.7% of monday.com, with several major firms—including Capital World Investors and Renaissance Technologies—substantially increasing their holdings.
• monday.com reported quarterly revenue of $351.26 million and earnings of $1.15 per share. Analysts maintain a “Moderate Buy” consensus with an average price target of $126.04, versus a recent share price of $77.43.

RPD Fund Management LLC purchased a new position in monday.com Ltd. (NASDAQ:MNDY - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 253,636 shares of the company's stock, valued at approximately $17,529,000. monday.com makes up about 5.7% of RPD Fund Management LLC's investment portfolio, making the stock its 4th largest holding. RPD Fund Management LLC owned 0.50% of monday.com at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors raised its stake in monday.com by 91.4% during the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company's stock valued at $484,950,000 after buying an additional 1,569,198 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of monday.com by 93.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company's stock worth $150,797,000 after acquiring an additional 1,052,900 shares in the last quarter. Norges Bank acquired a new position in shares of monday.com in the 4th quarter worth approximately $79,789,000. Marshall Wace LLP increased its holdings in shares of monday.com by 294.0% in the 3rd quarter. Marshall Wace LLP now owns 405,995 shares of the company's stock valued at $78,637,000 after acquiring an additional 302,961 shares during the last quarter. Finally, Amundi raised its position in shares of monday.com by 104.2% during the 3rd quarter. Amundi now owns 511,498 shares of the company's stock valued at $96,499,000 after acquiring an additional 261,000 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

monday.com Price Performance

NASDAQ:MNDY opened at $77.43 on Monday. monday.com Ltd. has a 12-month low of $57.50 and a 12-month high of $295.00. The firm has a market capitalization of $3.96 billion, a P/E ratio of 33.67, a P/E/G ratio of 3.88 and a beta of 1.26. The business has a 50 day simple moving average of $78.63 and a 200 day simple moving average of $83.16.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Friday, March 13th. The company reported $1.15 EPS for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%.The firm had revenue of $351.26 million during the quarter. Research analysts anticipate that monday.com Ltd. will post 1.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MNDY shares. Guggenheim set a $130.00 price objective on monday.com and gave the stock a "buy" rating in a research note on Thursday, April 9th. Citigroup dropped their target price on shares of monday.com from $176.00 to $154.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Tigress Financial reduced their price target on shares of monday.com to $165.00 and set a "buy" rating on the stock in a research report on Friday, May 22nd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of monday.com in a report on Thursday, June 11th. Finally, UBS Group decreased their price target on shares of monday.com from $93.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, May 12th. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.04.

monday.com Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com's visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company's product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.

Want to see what other hedge funds are holding MNDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for monday.com Ltd. (NASDAQ:MNDY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.