Franklin Resources Inc. Sells 52,344 Shares of monday.com Ltd. (NASDAQ:MNDY)

Franklin Resources Inc. reduced its holdings in monday.com Ltd. (NASDAQ:MNDY) by 2.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,819,280 shares of the company’s stock after selling 52,344 shares during the quarter. Franklin Resources Inc.’s holdings in monday.com were worth $428,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Oppenheimer & Co. Inc. grew its holdings in shares of monday.com by 24.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 6,765 shares of the company’s stock worth $1,593,000 after purchasing an additional 1,318 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in monday.com during the fourth quarter valued at approximately $245,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in monday.com by 10.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,437 shares of the company’s stock worth $29,009,000 after buying an additional 10,285 shares in the last quarter. Bailard Inc. increased its holdings in shares of monday.com by 147.5% in the 4th quarter. Bailard Inc. now owns 7,055 shares of the company’s stock worth $1,661,000 after buying an additional 4,204 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of monday.com by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 255,455 shares of the company’s stock worth $60,144,000 after buying an additional 8,329 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Price Performance

NASDAQ MNDY opened at $243.16 on Tuesday. monday.com Ltd. has a 1 year low of $174.75 and a 1 year high of $342.64. The stock has a market capitalization of $12.35 billion, a PE ratio of 405.27, a PEG ratio of 16.53 and a beta of 1.27. The business’s 50-day moving average is $273.01 and its 200 day moving average is $270.32.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities research analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MNDY. Wells Fargo & Company upped their target price on shares of monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Scotiabank reduced their price objective on monday.com from $400.00 to $315.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Citigroup raised monday.com from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $302.00 to $298.00 in a report on Thursday, January 16th. Cantor Fitzgerald upped their target price on monday.com from $292.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, DA Davidson raised shares of monday.com from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research note on Monday, March 17th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $352.64.

monday.com 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.