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

Summit Trail Advisors LLC trimmed its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 2.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 52,407 shares of the company’s stock after selling 1,065 shares during the quarter. Summit Trail Advisors LLC’s holdings in monday.com were worth $14,557,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Westfield Capital Management Co. LP increased its stake in monday.com by 2.4% during the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after acquiring an additional 14,304 shares during the last quarter. Larson Financial Group LLC increased its position in shares of monday.com by 645.7% during the 3rd quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock valued at $168,000 after purchasing an additional 523 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of monday.com by 21.1% during the 3rd quarter. Penserra Capital Management LLC now owns 4,665 shares of the company’s stock valued at $1,295,000 after purchasing an additional 813 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in monday.com by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,039 shares of the company’s stock valued at $6,677,000 after buying an additional 1,353 shares during the period. Finally, Brown Capital Management LLC lifted its position in monday.com by 2.4% in the third quarter. Brown Capital Management LLC now owns 110,720 shares of the company’s stock worth $30,755,000 after buying an additional 2,583 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MNDY. Citigroup increased their target price on shares of monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Loop Capital increased their price objective on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Capital One Financial initiated coverage on shares of monday.com in a research note on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price objective for the company. Tigress Financial upped their target price on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group raised their price target on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $310.81.

monday.com Stock Up 3.0 %

Shares of MNDY stock opened at $284.59 on Friday. The company’s 50 day moving average is $282.14 and its 200 day moving average is $251.25. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 694.12, a PEG ratio of 7.70 and a beta of 1.31. monday.com Ltd. has a 52-week low of $170.00 and a 52-week high of $324.99.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.61 by $0.24. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. Analysts anticipate that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

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.