Dakota Wealth Management Trims Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Dakota Wealth Management trimmed its holdings in monday.com Ltd. (NASDAQ:MNDY) by 2.5% in the 4th quarter, HoldingsChannel reports. The fund owned 2,256 shares of the company’s stock after selling 59 shares during the quarter. Dakota Wealth Management’s holdings in monday.com were worth $531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. purchased a new position in shares of monday.com during the 3rd quarter worth $1,667,000. International Assets Investment Management LLC purchased a new position in monday.com during the third quarter worth about $21,989,000. Taylor Frigon Capital Management LLC acquired a new stake in shares of monday.com during the third quarter valued at about $1,311,000. Jennison Associates LLC raised its stake 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 valued at $202,905,000 after acquiring an additional 318,837 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of monday.com by 6.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 36,572 shares of the company’s stock valued at $10,159,000 after acquiring an additional 2,196 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MNDY. KeyCorp downgraded shares of monday.com from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Barclays boosted their price objective on monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Piper Sandler lowered their target price on monday.com from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Needham & Company LLC boosted their price target on shares of monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Canaccord Genuity Group raised their price objective on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.68.

monday.com Trading Down 0.3 %

Shares of monday.com stock opened at $248.13 on Friday. The company has a fifty day simple moving average of $254.09 and a 200-day simple moving average of $259.69. The stock has a market cap of $11.98 billion, a price-to-earnings ratio of 605.20, a PEG ratio of 6.29 and a beta of 1.30. monday.com Ltd. has a 12-month low of $174.75 and a 12-month high of $324.99.

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 the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. monday.com’s revenue for the quarter was up 49.5% on a year-over-year basis. On average, analysts forecast that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

About monday.com

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.