Summit Partners Public Asset Management LLC Cuts Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Summit Partners Public Asset Management LLC lowered its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the company's stock after selling 22,263 shares during the period. monday.com accounts for about 0.7% of Summit Partners Public Asset Management LLC's holdings, making the stock its 24th biggest position. Summit Partners Public Asset Management LLC owned 0.31% of monday.com worth $35,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MNDY. Clearbridge Investments LLC lifted its position in monday.com by 0.3% during the fourth quarter. Clearbridge Investments LLC now owns 13,501 shares of the company's stock valued at $3,179,000 after purchasing an additional 44 shares during the last quarter. Prudential Financial Inc. raised its position in shares of monday.com by 1.3% during the 4th quarter. Prudential Financial Inc. now owns 4,122 shares of the company's stock valued at $970,000 after buying an additional 53 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of monday.com by 64.8% during the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company's stock worth $35,000 after acquiring an additional 59 shares during the last quarter. Venturi Wealth Management LLC grew its position in monday.com by 7.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,076 shares of the company's stock worth $253,000 after acquiring an additional 76 shares in the last quarter. Finally, Vestcor Inc raised its position in monday.com by 16.0% during the fourth quarter. Vestcor Inc now owns 602 shares of the company's stock valued at $142,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 73.70% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on MNDY shares. Tigress Financial boosted their target price on monday.com from $340.00 to $450.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Barclays lowered their price objective on shares of monday.com from $360.00 to $345.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Wall Street Zen raised shares of monday.com from a "hold" rating to a "buy" rating in a report on Thursday. Robert W. Baird lifted their target price on shares of monday.com from $275.00 to $335.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group upped their price target on shares of monday.com from $350.00 to $400.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $346.50.

monday.com Stock Performance

Shares of MNDY traded down $2.78 on Thursday, reaching $289.13. The stock had a trading volume of 192,844 shares, compared to its average volume of 765,617. monday.com Ltd. has a 12-month low of $188.01 and a 12-month high of $342.64. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of 481.37, a price-to-earnings-growth ratio of 16.53 and a beta of 1.32. The company has a 50-day simple moving average of $262.13 and a 200-day simple moving average of $265.33.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.70 by $0.40. The business had revenue of $282.25 million during the quarter, compared to analyst estimates of $275.93 million. monday.com had a return on equity of 6.22% and a net margin of 3.33%. The company's revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. On average, analysts expect that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

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.