Sei Investments Co. Sells 35,193 Shares of monday.com Ltd. $MNDY

Key Points

• Sei Investments Co. cut its monday.com stake by 85.6% in the first quarter, selling 35,193 shares and retaining 5,905 shares worth approximately $408,000. Institutional investors collectively own 73.7% of MNDY.
• Analyst sentiment remains broadly positive but mixed: monday.com has a consensus “Moderate Buy” rating and a $117.91 average price target, despite several recent target and rating reductions.
• monday.com exceeded quarterly expectations, reporting $1.48 in earnings per share versus the $1.11 estimate and $364.62 million in revenue. Revenue increased 21.9% year over year, while shares opened at $87.52.

Sei Investments Co. reduced its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 85.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,905 shares of the company's stock after selling 35,193 shares during the period. Sei Investments Co.'s holdings in monday.com were worth $408,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MNDY. NewEdge Advisors LLC grew its holdings in shares of monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company's stock valued at $27,000 after buying an additional 106 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of monday.com in the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC lifted its position in monday.com by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company's stock valued at $47,000 after acquiring an additional 65 shares in the last quarter. Quarry LP bought a new position in monday.com in the 4th quarter valued at about $29,000. Finally, Huntington National Bank boosted its stake in monday.com by 6,040.0% during the 4th quarter. Huntington National Bank now owns 307 shares of the company's stock valued at $45,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 73.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on MNDY shares. Capital One Financial lowered monday.com from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective for the company. in a report on Monday, August 10th. Cantor Fitzgerald lowered monday.com from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $112.00 to $90.00 in a report on Monday, August 10th. Citigroup cut their target price on monday.com from $154.00 to $132.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Canaccord Genuity Group decreased their price target on monday.com from $140.00 to $115.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Finally, BTIG Research reissued a "buy" rating and issued a $105.00 price target on shares of monday.com in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.91.

monday.com News Roundup

Here are the key news stories impacting monday.com this week:

• Positive Sentiment: Zacks upgraded monday.com to “Strong Buy.” The upgrade reflects improving earnings expectations and could attract additional investor interest. Zacks.com
• Positive Sentiment: Rising earnings estimates are providing a near-term catalyst. Zacks said upward revisions to forecasts indicate that MNDY’s shares may continue moving higher. Rising Earnings Estimates
• Positive Sentiment: Zacks cited growing earnings optimism in assigning MNDY its highest rank. The upgrade to Zacks Rank #1, or “Strong Buy,” reinforces the improving fundamental outlook. Zacks Strong Buy Upgrade
• Positive Sentiment: Analysts’ average price target implies approximately 26.2% potential upside. The estimate is a positive sentiment indicator, although price targets are not guaranteed and can change. Analyst Price Target
• Positive Sentiment: BTIG and TD Cowen reiterated “Buy” ratings, maintaining institutional support for monday.com. BTIG Buy Rating TD Cowen Buy Rating
• Negative Sentiment: Wells Fargo lowered its expectations for MNDY’s stock price, while Citigroup issued a pessimistic forecast. These actions may weigh on sentiment and offset some of the recent bullish analyst commentary. Wells Fargo Forecast Citigroup Forecast

monday.com Stock Down 7.2%

Shares of NASDAQ MNDY opened at $87.52 on Friday. The company has a market capitalization of $4.48 billion, a PE ratio of 37.24, a PEG ratio of 2.21 and a beta of 1.24. The stock's 50 day moving average price is $80.70 and its 200-day moving average price is $78.58. monday.com Ltd. has a twelve month low of $57.50 and a twelve month high of $220.80.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%.monday.com's revenue was up 21.9% on a year-over-year basis. During the same period last year, the business posted $1.09 earnings per share. As a group, research analysts expect that monday.com Ltd. will post 2.09 EPS for the current fiscal year.

monday.com Company 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source