monday.com Ltd. (NASDAQ:MNDY) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC trimmed its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 43.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,530 shares of the company’s stock after selling 3,480 shares during the period. Pier 88 Investment Partners LLC’s holdings in monday.com were worth $1,258,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of monday.com by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock worth $714,781,000 after purchasing an additional 31,304 shares in the last quarter. Renaissance Technologies LLC increased its holdings in monday.com by 20.2% in the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after buying an additional 188,800 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of monday.com by 34.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after acquiring an additional 170,800 shares during the period. Eminence Capital LP boosted its stake in shares of monday.com by 1.4% during the 2nd quarter. Eminence Capital LP now owns 470,717 shares of the company’s stock worth $113,330,000 after acquiring an additional 6,349 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in shares of monday.com by 33.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 415,584 shares of the company’s stock worth $93,868,000 after acquiring an additional 103,094 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Stock Performance

Shares of MNDY stock opened at $269.16 on Thursday. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 656.49, a price-to-earnings-growth ratio of 12.15 and a beta of 1.31. monday.com Ltd. has a one year low of $159.22 and a one year high of $324.99. The company has a 50 day moving average price of $279.69 and a 200 day moving average price of $247.51.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 5.15% and a net margin of 2.39%. The business had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. During the same period in the prior year, the firm posted $0.15 EPS. The business’s revenue for the quarter was up 49.5% on a year-over-year basis. As a group, equities analysts forecast that monday.com Ltd. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on MNDY. Citigroup boosted their target price on monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Piper Sandler increased their price objective on shares of monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday. Capital One Financial initiated coverage on shares of monday.com in a research report on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price for the company. Oppenheimer lifted their price objective on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC raised their price target on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.10.

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.