monday.com Ltd. (NASDAQ:MNDY) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 28.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,153 shares of the company’s stock after selling 19,468 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in monday.com were worth $12,195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in monday.com during the fourth quarter worth about $245,000. Bank of Montreal Can raised its stake in monday.com by 62.0% during the fourth quarter. Bank of Montreal Can now owns 22,097 shares of the company’s stock worth $5,203,000 after acquiring an additional 8,454 shares during the period. Asset Management One Co. Ltd. raised its stake in monday.com by 109.2% during the first quarter. Asset Management One Co. Ltd. now owns 27,231 shares of the company’s stock worth $6,647,000 after acquiring an additional 14,213 shares during the period. Rubicon Global Capital Ltd acquired a new stake in monday.com during the first quarter worth about $137,434,000. Finally, Twinbeech Capital LP acquired a new stake in monday.com during the fourth quarter worth about $12,146,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

Analysts Set New Price Targets

MNDY has been the topic of several analyst reports. Loop Capital dropped their price target on shares of monday.com from $385.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of monday.com in a research note on Tuesday, May 13th. UBS Group dropped their price target on shares of monday.com from $350.00 to $310.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Canaccord Genuity Group dropped their price target on shares of monday.com from $375.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Finally, Scotiabank raised their price target on shares of monday.com from $315.00 to $330.00 and gave the company a “sector outperform” rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $347.09.

monday.com Stock Up 0.4%

MNDY opened at $301.07 on Friday. The firm has a market cap of $15.29 billion, a PE ratio of 307.22, a P/E/G ratio of 108.50 and a beta of 1.30. The business has a fifty day simple moving average of $292.22 and a 200-day simple moving average of $268.47. monday.com Ltd. has a fifty-two week low of $188.01 and a fifty-two week high of $342.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping 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 7.87% and a net margin of 5.08%. The company’s revenue was up 30.2% compared to the same quarter last year. During the same period last year, the company posted $0.61 EPS. On average, equities research analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

About monday.com

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.