ShawSpring Partners LLC Sells 64,088 Shares of monday.com Ltd. (NASDAQ:MNDY)

ShawSpring Partners LLC decreased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 15.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 350,530 shares of the company’s stock after selling 64,088 shares during the quarter. monday.com comprises approximately 12.3% of ShawSpring Partners LLC’s investment portfolio, making the stock its 2nd largest holding. ShawSpring Partners LLC owned about 0.73% of monday.com worth $97,367,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MNDY. FMR LLC raised its holdings in monday.com by 112.0% during the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after buying an additional 798,791 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after acquiring an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after acquiring an additional 313,279 shares in the last quarter. Renaissance Technologies LLC boosted its stake in monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after purchasing an additional 188,800 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in monday.com by 171.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock worth $65,938,000 after purchasing an additional 172,919 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup raised their target price on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Robert W. Baird lifted their price objective on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Oppenheimer increased their target price on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. UBS Group raised their price target on shares of monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Tigress Financial increased their price objective on shares of monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.81.

monday.com Trading Down 1.0 %

monday.com stock opened at $293.00 on Wednesday. The firm has a 50 day simple moving average of $282.80 and a 200 day simple moving average of $252.52. monday.com Ltd. has a 1-year low of $170.00 and a 1-year high of $324.99. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 714.63, a P/E/G ratio of 8.25 and a beta of 1.31.

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