Summit Trail Advisors LLC Sells 1,994 Shares of monday.com Ltd. (NASDAQ:MNDY)

Summit Trail Advisors LLC cut its stake in monday.com Ltd. (NASDAQ:MNDY) by 3.8% in the fourth quarter, HoldingsChannel reports. The fund owned 50,413 shares of the company’s stock after selling 1,994 shares during the period. monday.com accounts for 0.4% of Summit Trail Advisors LLC’s holdings, making the stock its 26th largest position. Summit Trail Advisors LLC’s holdings in monday.com were worth $11,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MNDY. FMR LLC raised its stake in shares of monday.com by 112.0% during the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after buying an additional 798,791 shares during the last quarter. Jennison Associates LLC raised its stake in shares of monday.com by 13.7% during the fourth quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock worth $195,606,000 after buying an additional 100,333 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of monday.com by 2.4% during the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after buying an additional 14,304 shares during the last quarter. State Street Corp raised its stake in shares of monday.com by 3.8% during the third quarter. State Street Corp now owns 587,879 shares of the company’s stock worth $163,295,000 after buying an additional 21,585 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of monday.com by 2.9% during the third quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock worth $150,079,000 after buying an additional 15,300 shares during the last quarter. 73.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $302.00 to $298.00 in a research note on Thursday, January 16th. Loop Capital lowered their target price on shares of monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Robert W. Baird upped their target price on shares of monday.com from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Wells Fargo & Company upped their target price on shares of monday.com from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $314.77.

monday.com Price Performance

Shares of MNDY opened at $326.58 on Tuesday. The firm has a market capitalization of $15.77 billion, a PE ratio of 796.54, a PEG ratio of 7.67 and a beta of 1.31. The company’s 50-day moving average is $250.37 and its 200-day moving average is $262.04. monday.com Ltd. has a fifty-two week low of $174.75 and a fifty-two week high of $342.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 4.99% and a net margin of 2.39%. Analysts predict that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

monday.com Company 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.