Summit Trail Advisors LLC Trims Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Summit Trail Advisors LLC lessened its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 33.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,119 shares of the company's stock after selling 7,589 shares during the quarter. Summit Trail Advisors LLC's holdings in monday.com were worth $2,839,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its holdings in shares of monday.com by 35.8% in the 3rd quarter. Acadian Asset Management LLC now owns 1,137,850 shares of the company's stock worth $181,124,000 after purchasing an additional 300,011 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of monday.com during the fourth quarter valued at $131,086,000. Invesco Ltd. grew its position in shares of monday.com by 331.6% during the third quarter. Invesco Ltd. now owns 629,572 shares of the company's stock worth $100,240,000 after acquiring an additional 483,709 shares during the last quarter. Polar Capital Holdings Plc increased its holdings in shares of monday.com by 53.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 431,738 shares of the company's stock worth $68,741,000 after acquiring an additional 149,587 shares during the period. Finally, Lord Abbett & CO. LLC lifted its position in monday.com by 20.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 322,793 shares of the company's stock valued at $51,396,000 after purchasing an additional 55,570 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

monday.com Stock Down 2.1 %

NASDAQ:MNDY traded down $4.17 during trading hours on Tuesday, reaching $190.37. 466,851 shares of the company's stock were exchanged, compared to its average volume of 794,964. The company has a market capitalization of $9.19 billion, a P/E ratio of -2,758.46 and a beta of 1.24. monday.com Ltd. has a 12 month low of $117.80 and a 12 month high of $239.22. The business's 50-day simple moving average is $209.34 and its two-hundred day simple moving average is $192.25.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings data on Monday, February 12th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.33. monday.com had a negative return on equity of 0.43% and a negative net margin of 0.26%. The business had revenue of $202.60 million during the quarter, compared to analyst estimates of $197.97 million. During the same period last year, the company posted ($0.03) EPS. The company's revenue was up 35.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that monday.com Ltd. will post -0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on MNDY. Citigroup lowered shares of monday.com from a "buy" rating to a "neutral" rating and dropped their price target for the company from $277.00 to $250.00 in a research note on Wednesday, April 10th. Oppenheimer boosted their price target on monday.com from $220.00 to $240.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 13th. Tigress Financial increased their price target on monday.com from $240.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. KeyCorp started coverage on shares of monday.com in a research note on Thursday, March 21st. They set an "overweight" rating and a $275.00 price objective on the stock. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $250.00 price objective on shares of monday.com in a report on Tuesday, February 13th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $240.00.

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.