Westfield Capital Management Co. LP Sells 32,736 Shares of monday.com Ltd. (NASDAQ:MNDY)

Key Points

• Westfield Capital Management Co. LP reduced its stake in monday.com Ltd. by 4.7% during the first quarter, owning 665,164 shares worth approximately $161.74 million.
• A number of institutional investors have increased their stakes in monday.com, with Andar Capital Management HK Ltd boosting its stake by 68.7% in the same period.
• Analysts have mixed opinions on monday.com stocks, with Barclays reducing its price target from $360 to $345 while others maintain an "overweight" or "buy" rating, reflecting optimism despite fluctuating price targets.

Westfield Capital Management Co. LP lowered its stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 665,164 shares of the company's stock after selling 32,736 shares during the quarter. monday.com comprises 0.8% of Westfield Capital Management Co. LP's portfolio, making the stock its 27th largest position. Westfield Capital Management Co. LP owned approximately 1.31% of monday.com worth $161,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. WCM Investment Management LLC boosted its holdings in monday.com by 0.4% in the 1st quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock worth $1,007,550,000 after buying an additional 17,371 shares during the last quarter. 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 position in monday.com in the first quarter worth approximately $137,434,000. T. Rowe Price Investment Management Inc. acquired a new stake in monday.com during the fourth quarter worth approximately $109,605,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of monday.com by 754.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 440,622 shares of the company's stock worth $107,142,000 after buying an additional 389,073 shares in the last quarter. Institutional investors own 73.70% of the company's stock.

monday.com Trading Up 3.5%

NASDAQ MNDY traded up $8.76 during trading on Wednesday, reaching $258.72. The company's stock had a trading volume of 1,135,352 shares, compared to its average volume of 532,478. monday.com Ltd. has a 12 month low of $202.01 and a 12 month high of $342.64. The firm has a market capitalization of $13.14 billion, a price-to-earnings ratio of 166.64, a price-to-earnings-growth ratio of 90.45 and a beta of 1.27. The firm has a 50 day moving average price of $292.34 and a 200 day moving average price of $277.10.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.40. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The firm had revenue of $282.25 million during the quarter, compared to analyst estimates of $275.93 million. During the same period last year, the firm posted $0.61 EPS. The business's revenue was up 30.2% compared to the same quarter last year. On average, equities analysts forecast that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MNDY has been the topic of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price target on shares of monday.com in a research note on Tuesday, May 13th. DA Davidson cut their price target on monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a report on Monday, April 14th. Canaccord Genuity Group decreased their target price on monday.com from $375.00 to $350.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Loop Capital cut their target price on shares of monday.com from $385.00 to $375.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Robert W. Baird set a $310.00 price objective on shares of monday.com and gave the company an "outperform" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $348.09.

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.