MML Investors Services LLC Has $1.50 Million Stake in monday.com Ltd. (NASDAQ:MNDY)

MML Investors Services LLC trimmed its stake in monday.com Ltd. (NASDAQ:MNDY) by 35.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,409 shares of the company’s stock after selling 2,968 shares during the period. MML Investors Services LLC’s holdings in monday.com were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. iA Global Asset Management Inc. grew its position in monday.com by 20.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 20,788 shares of the company’s stock worth $5,774,000 after purchasing an additional 3,502 shares during the last quarter. Wellington Management Group LLP grew its position in monday.com by 2.5% in the 3rd quarter. Wellington Management Group LLP now owns 28,132 shares of the company’s stock worth $7,814,000 after purchasing an additional 687 shares during the last quarter. Whale Rock Capital Management LLC grew its position in monday.com by 3.3% in the 3rd quarter. Whale Rock Capital Management LLC now owns 402,447 shares of the company’s stock worth $111,788,000 after purchasing an additional 13,033 shares during the last quarter. Two Sigma Advisers LP grew 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 last quarter. Finally, State Street Corp boosted its position in shares of monday.com by 3.8% during the 3rd 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 in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Trading Down 7.9 %

Shares of NASDAQ MNDY opened at $251.80 on Wednesday. monday.com Ltd. has a 1-year low of $170.00 and a 1-year high of $324.99. The company has a market cap of $12.16 billion, a PE ratio of 614.15, a P/E/G ratio of 7.75 and a beta of 1.25. The company has a 50-day moving average of $285.29 and a two-hundred day moving average of $258.89.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company’s revenue was up 49.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. As a group, equities research analysts forecast that monday.com Ltd. will post 0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Needham & Company LLC lifted their target price on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Canaccord Genuity Group lifted their target price on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. KeyCorp lowered shares of monday.com from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Finally, Robert W. Baird lifted their target price on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $310.81.

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.