Migdal Insurance & Financial Holdings Ltd. Cuts Stake in monday.com Ltd. (NASDAQ:MNDY)

Migdal Insurance & Financial Holdings Ltd. decreased its holdings in monday.com Ltd. (NASDAQ:MNDY) by 31.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,009 shares of the company’s stock after selling 25,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in monday.com were worth $15,280,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MNDY. Mirae Asset Global Investments Co. Ltd. purchased a new stake in monday.com during the 3rd quarter valued at $43,000. Ridgewood Investments LLC purchased a new stake in monday.com during the 2nd quarter valued at $45,000. Gilliland Jeter Wealth Management LLC boosted its position in monday.com by 72.9% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after buying an additional 102 shares during the period. Opal Wealth Advisors LLC purchased a new stake in monday.com during the 2nd quarter valued at $69,000. Finally, Industrial Alliance Investment Management Inc. boosted its position in monday.com by 741.7% during the 1st 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 during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Stock Up 1.8 %

Shares of NASDAQ MNDY traded up $5.75 during trading on Friday, reaching $324.31. 816,538 shares of the company traded hands, compared to its average volume of 397,020. The firm has a 50 day simple moving average of $278.88 and a 200-day simple moving average of $245.81. The stock has a market capitalization of $15.66 billion, a PE ratio of 405.39, a P/E/G ratio of 14.83 and a beta of 1.31. monday.com Ltd. has a 52-week low of $133.50 and a 52-week high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.23. The firm had revenue of $236.11 million for the quarter, compared to the consensus estimate of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. As a group, research analysts predict that monday.com Ltd. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Citigroup upped their price objective on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Baird R W upgraded shares of monday.com to a “hold” rating in a report on Tuesday, July 23rd. Loop Capital upped their price objective on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, TD Cowen upped their price objective on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.10.

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.