Envestnet Portfolio Solutions Inc. Decreases Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Envestnet Portfolio Solutions Inc. decreased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,604 shares of the company’s stock after selling 728 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in monday.com were worth $1,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Desjardins Global Asset Management Inc. raised its stake in shares of monday.com by 222.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock valued at $25,000 after buying an additional 91 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in monday.com during the second quarter worth approximately $69,000. PNC Financial Services Group Inc. boosted its position in monday.com by 373.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock worth $74,000 after purchasing an additional 310 shares in the last quarter. Industrial Alliance Investment Management Inc. increased its position in shares of monday.com by 741.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after buying an additional 356 shares in the last quarter. Finally, RiverPark Advisors LLC acquired a new position in shares of monday.com during the 1st quarter worth approximately $130,000. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Stock Performance

Shares of MNDY opened at $263.38 on Monday. monday.com Ltd. has a one year low of $122.13 and a one year high of $265.97. The stock has a 50-day moving average price of $232.24 and a 200 day moving average price of $220.02. The company has a market capitalization of $12.72 billion, a P/E ratio of 693.11, a P/E/G ratio of 43.41 and a beta of 1.30.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. 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 note on Tuesday, August 13th. Piper Sandler restated an “overweight” rating and set a $300.00 price target (up from $270.00) on shares of monday.com in a research report on Monday, August 12th. DA Davidson raised their target price on shares of monday.com from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Barclays upped their price target on monday.com from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Canaccord Genuity Group lifted their price target on monday.com from $250.00 to $295.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, monday.com has a consensus rating of “Moderate Buy” and an average price target of $282.63.

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.