Alliancebernstein L.P. Reduces Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Alliancebernstein L.P. reduced its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 13.1% during the 4th quarter, HoldingsChannel reports. The fund owned 573,230 shares of the company’s stock after selling 86,543 shares during the period. Alliancebernstein L.P.’s holdings in monday.com were worth $134,961,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MNDY. Jennison Associates LLC increased its position in shares of monday.com by 13.7% during the 4th quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock valued at $195,606,000 after purchasing an additional 100,333 shares during the last quarter. State Street Corp increased its position in monday.com by 3.8% during the third quarter. State Street Corp now owns 587,879 shares of the company’s stock valued at $163,295,000 after acquiring an additional 21,585 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in monday.com by 264.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company’s stock valued at $126,407,000 after purchasing an additional 403,255 shares during the last quarter. Two Sigma Advisers LP raised its position in monday.com by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock worth $150,079,000 after purchasing an additional 15,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in monday.com by 23.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 499,950 shares of the company’s stock worth $117,708,000 after purchasing an additional 96,222 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Performance

Shares of monday.com stock opened at $262.18 on Wednesday. monday.com Ltd. has a one year low of $174.75 and a one year high of $342.64. The company has a market capitalization of $13.31 billion, a PE ratio of 436.97, a P/E/G ratio of 16.53 and a beta of 1.27. The company has a 50-day simple moving average of $273.31 and a two-hundred day simple moving average of $270.37.

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

Analysts Set New Price Targets

A number of research firms have recently commented on MNDY. KeyCorp raised monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 target price on the stock in a research note on Tuesday, February 11th. Piper Sandler upped their price objective on monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Barclays lifted their target price on monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their target price on shares of monday.com from $350.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $302.00 to $298.00 in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, monday.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $352.64.

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.