Invesco Ltd. Reduces Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Invesco Ltd. decreased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 29.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 153,626 shares of the company’s stock after selling 63,419 shares during the quarter. Invesco Ltd. owned about 0.32% of monday.com worth $36,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MNDY. Barclays PLC raised its holdings in shares of monday.com by 225.8% during the 3rd quarter. Barclays PLC now owns 17,427 shares of the company’s stock worth $4,840,000 after acquiring an additional 12,078 shares during the period. Geode Capital Management LLC raised its stake in monday.com by 4.1% during the third quarter. Geode Capital Management LLC now owns 330,777 shares of the company’s stock worth $91,447,000 after purchasing an additional 12,968 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in monday.com in the 3rd quarter valued at about $469,000. American Trust purchased a new stake in shares of monday.com in the 3rd quarter valued at approximately $204,000. Finally, Principal Financial Group Inc. increased its holdings in shares of monday.com by 35.8% during the 3rd quarter. Principal Financial Group Inc. now owns 53,306 shares of the company’s stock worth $14,807,000 after buying an additional 14,059 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Trading Down 0.3 %

Shares of MNDY stock opened at $250.34 on Thursday. The company has a market cap of $12.71 billion, a P/E ratio of 417.23, a PEG ratio of 16.53 and a beta of 1.34. The firm has a fifty day moving average price of $269.64 and a 200 day moving average price of $267.45. monday.com Ltd. has a 12 month low of $174.75 and a 12 month high of $342.64.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. On average, equities analysts forecast that monday.com Ltd. will post 0.46 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MNDY. Citigroup upgraded monday.com from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. Tigress Financial increased their price target on monday.com from $340.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Scotiabank cut their price objective on monday.com from $400.00 to $315.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group upped their target price 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. Finally, Piper Sandler lifted their price target on shares of monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $349.91.

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.