Holocene Advisors LP Sells 125,422 Shares of monday.com Ltd. (NASDAQ:MNDY)

Holocene Advisors LP reduced its stake in monday.com Ltd. (NASDAQ:MNDY) by 23.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 409,384 shares of the company’s stock after selling 125,422 shares during the period. Holocene Advisors LP owned 0.85% of monday.com worth $113,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in monday.com by 12.9% in the first quarter. Vanguard Group Inc. now owns 45,682 shares of the company’s stock valued at $10,318,000 after purchasing an additional 5,229 shares in the last quarter. Janus Henderson Group PLC acquired a new position in monday.com in the first quarter valued at about $203,000. California State Teachers Retirement System increased its holdings in shares of monday.com by 13.8% in the first quarter. California State Teachers Retirement System now owns 25,320 shares of the company’s stock worth $5,719,000 after acquiring an additional 3,068 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of monday.com during the first quarter worth about $264,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in monday.com by 1,175.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 17,480 shares of the company’s stock valued at $3,927,000 after buying an additional 16,109 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Stock Performance

NASDAQ MNDY opened at $285.36 on Monday. The firm’s fifty day moving average price is $284.35 and its two-hundred day moving average price is $255.00. The stock has a market cap of $13.78 billion, a PE ratio of 696.00, a PEG ratio of 7.95 and a beta of 1.31. monday.com Ltd. has a fifty-two week low of $170.00 and a fifty-two week high of $324.99.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. As a group, sell-side analysts predict that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

MNDY has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their price target on shares of monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group lifted their price target on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Oppenheimer raised their price target on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, DA Davidson reiterated a “neutral” rating and issued a $300.00 price objective on shares of monday.com in a report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and an average price target of $310.81.

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.