Insider Selling: monday.com (NASDAQ:MNDY) Director Sells $200,080.00 in Stock

monday.com Ltd. (NASDAQ:MNDY) Director Aviad Eyal sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the sale, the director owned 203,455 shares in the company, valued at approximately $20,353,638.20. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

monday.com Price Performance

Shares of NASDAQ:MNDY traded up $6.71 during trading on Thursday, hitting $106.86. The company had a trading volume of 1,714,235 shares, compared to its average volume of 1,791,899. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 45.47, a price-to-earnings-growth ratio of 2.28 and a beta of 1.14. The company has a fifty day simple moving average of $89.21 and a two-hundred day simple moving average of $81.11. monday.com Ltd. has a one year low of $57.50 and a one year high of $210.49.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating 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 company had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. During the same period in the prior year, the firm posted $1.09 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts anticipate that monday.com Ltd. will post 2.34 earnings per share for the current year.

Institutional Trading of monday.com

Institutional investors and hedge funds have recently made changes to their positions in the company. Fulton Bank N.A. lifted its stake in monday.com by 5.1% in the second quarter. Fulton Bank N.A. now owns 3,339 shares of the company’s stock worth $242,000 after acquiring an additional 162 shares during the period. EverSource Wealth Advisors LLC grew its holdings in monday.com by 498.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after acquiring an additional 354 shares in the last quarter. USS Investment Management Ltd increased its position in monday.com by 5.8% during the 1st quarter. USS Investment Management Ltd now owns 9,509 shares of the company’s stock valued at $657,000 after purchasing an additional 524 shares during the period. Pictet Asset Management Holding SA increased its position in monday.com by 7.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 18,766 shares of the company’s stock valued at $1,297,000 after purchasing an additional 1,247 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of monday.com by 6.4% in the 4th quarter. Hsbc Holdings PLC now owns 21,774 shares of the company’s stock valued at $3,226,000 after purchasing an additional 1,301 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MNDY has been the subject of a number of research analyst reports. Weiss Ratings raised monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 15th. Cantor Fitzgerald downgraded monday.com from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $112.00 to $90.00 in a research report on Monday, August 10th. UBS Group increased their target price on monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Citigroup decreased their target price on monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company decreased their target price on monday.com from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $111.70.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.