Wellington Management Group LLP Trims Stake in monday.com Ltd. $MNDY

Wellington Management Group LLP reduced its holdings in monday.com Ltd. (NASDAQ:MNDY) by 53.0% during the second quarter, Holdings Channel.com reports. The fund owned 69,135 shares of the company’s stock after selling 77,967 shares during the quarter. Wellington Management Group LLP’s holdings in monday.com were worth $5,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in shares of monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. Advisory Services Network LLC purchased a new stake in monday.com in the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its stake in 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 purchasing an additional 65 shares in the last quarter. Quarry LP bought a new stake in monday.com during the fourth quarter valued at approximately $29,000. Finally, Huntington National Bank grew its stake in monday.com by 6,040.0% in the 4th quarter. Huntington National Bank now owns 307 shares of the company’s stock worth $45,000 after buying an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Stock Performance

MNDY stock opened at $81.11 on Thursday. monday.com Ltd. has a 52 week low of $57.50 and a 52 week high of $220.80. The firm’s fifty day moving average is $86.95 and its 200 day moving average is $78.19. The firm has a market cap of $4.15 billion, a P/E ratio of 34.52, a P/E/G ratio of 1.96 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The business had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. During the same period in the previous year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, analysts forecast that monday.com Ltd. will post 2.25 EPS for the current year.

Analysts Set New Price Targets

MNDY has been the topic of a number of research analyst reports. UBS Group increased their price target on shares of monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Wells Fargo & Company reduced their target price on monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Zacks Research upgraded monday.com from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Capital One Financial lowered monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research note on Monday, August 10th. Finally, BTIG Research reiterated a “buy” rating and issued a $105.00 price objective on shares of monday.com in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $117.91.

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.