Westfield Capital Management Co. LP Sells 679,364 Shares of monday.com Ltd. $MNDY

Westfield Capital Management Co. LP cut its holdings in monday.com Ltd. (NASDAQ:MNDY) by 98.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,955 shares of the company’s stock after selling 679,364 shares during the period. Westfield Capital Management Co. LP’s holdings in monday.com were worth $2,059,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of monday.com in the third quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its position in shares of monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after acquiring an additional 65 shares during the period. Abound Wealth Management purchased a new position in shares of monday.com in the fourth quarter valued at about $30,000. Finally, Smartleaf Asset Management LLC increased its position in shares of monday.com by 575.8% in the third quarter. Smartleaf Asset Management LLC now owns 223 shares of the company’s stock valued at $45,000 after acquiring an additional 190 shares during the period. 73.70% of the stock is owned by institutional investors.

monday.com Price Performance

NASDAQ:MNDY opened at $85.74 on Friday. monday.com Ltd. has a one year low of $57.50 and a one year high of $316.98. The company’s 50-day simple moving average is $72.27 and its 200 day simple moving average is $101.30. The firm has a market capitalization of $4.39 billion, a P/E ratio of 37.28, a PEG ratio of 4.29 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Friday, March 13th. The company reported $1.15 EPS for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The business had revenue of $351.27 million for the quarter. On average, equities research analysts expect that monday.com Ltd. will post 1.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald decreased their price objective on shares of monday.com from $148.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 10th. TD Cowen boosted their price objective on shares of monday.com from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Piper Sandler boosted their price objective on shares of monday.com from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Guggenheim set a $130.00 price objective on shares of monday.com and gave the company a “buy” rating in a research report on Thursday, April 9th. Finally, UBS Group decreased their price objective on shares of monday.com from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $126.48.

monday.com Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.