monday.com Ltd. (NASDAQ:MNDY) Position Lowered by Strategy Capital LLC

Key Points

• Strategy Capital LLC has reduced its stake in monday.com by 6.1% this quarter, now holding approximately 233,938 shares valued at $56.88 million, making it the 8th largest position in their portfolio.
• Despite a 29.8% drop in MNDY stock price, the company reported a quarterly EPS of $1.09, surpassing analysts’ expectations and showcasing revenue growth of 26.6% year-over-year.
• Institutional investors collectively own 73.70% of monday.com's stock, with several major firms increasing their stakes significantly in the first quarter.

Strategy Capital LLC trimmed its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 6.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 233,938 shares of the company's stock after selling 15,121 shares during the quarter. monday.com makes up approximately 5.4% of Strategy Capital LLC's holdings, making the stock its 8th biggest position. Strategy Capital LLC owned 0.46% of monday.com worth $56,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MNDY. Vanguard Group Inc. raised its holdings in shares of monday.com by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 69,888 shares of the company's stock worth $16,454,000 after acquiring an additional 1,426 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of monday.com by 176.3% during the 4th quarter. Russell Investments Group Ltd. now owns 26,292 shares of the company's stock worth $6,190,000 after acquiring an additional 16,776 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of monday.com by 43.4% during the 4th quarter. Cerity Partners LLC now owns 1,798 shares of the company's stock worth $466,000 after acquiring an additional 544 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of monday.com by 62.0% during the 4th quarter. Bank of Montreal Can now owns 22,097 shares of the company's stock worth $5,203,000 after acquiring an additional 8,454 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of monday.com during the 4th quarter worth approximately $27,010,000. 73.70% of the stock is currently owned by institutional investors.

monday.com Price Performance

NASDAQ:MNDY traded down $1.18 during trading hours on Friday, reaching $175.74. The company had a trading volume of 1,656,207 shares, compared to its average volume of 901,722. monday.com Ltd. has a 1-year low of $171.54 and a 1-year high of $342.64. The firm has a market cap of $8.92 billion, a PE ratio of 237.49, a price-to-earnings-growth ratio of 6.00 and a beta of 1.27. The business's 50 day moving average price is $279.31 and its 200-day moving average price is $274.98.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.25. The business had revenue of $299.01 million during the quarter, compared to the consensus estimate of $293.60 million. monday.com had a return on equity of 6.32% and a net margin of 3.63%. The business's quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. On average, analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wells Fargo & Company set a $365.00 price objective on monday.com and gave the stock an "overweight" rating in a report on Friday, June 13th. Wall Street Zen lowered monday.com from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Cowen restated a "buy" rating on shares of monday.com in a report on Tuesday. Morgan Stanley upgraded monday.com from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $330.00 to $260.00 in a report on Tuesday. Finally, Robert W. Baird decreased their price target on monday.com from $310.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $305.18.

monday.com Company 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.