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

Pier 88 Investment Partners LLC trimmed its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 48.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,340 shares of the company’s stock after selling 2,190 shares during the period. Pier 88 Investment Partners LLC’s holdings in monday.com were worth $551,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in monday.com in the 4th quarter valued at approximately $116,686,000. SG Americas Securities LLC grew its holdings in monday.com by 1,024.7% in the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock valued at $112,162,000 after purchasing an additional 434,035 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of monday.com by 264.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company’s stock valued at $126,407,000 after buying an additional 403,255 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of monday.com in the 4th quarter worth about $27,010,000. Finally, Jennison Associates LLC boosted its position in shares of monday.com by 13.7% in the 4th quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock worth $195,606,000 after buying an additional 100,333 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MNDY shares. The Goldman Sachs Group lifted their target price on shares of monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Tigress Financial lifted their price objective on monday.com from $340.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their target price on monday.com from $350.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Scotiabank cut their price target on monday.com from $400.00 to $315.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Finally, Loop Capital decreased their price objective on monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $354.45.

monday.com Stock Down 3.4 %

MNDY stock opened at $247.01 on Monday. The company has a market cap of $12.54 billion, a price-to-earnings ratio of 411.68, a PEG ratio of 16.53 and a beta of 1.27. The business has a fifty day simple moving average of $272.99 and a 200-day simple moving average of $270.44. monday.com Ltd. has a 52 week low of $174.75 and a 52 week high of $342.64.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS 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%. As a group, analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

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.