Allspring Global Investments Holdings LLC Sells 57,857 Shares of monday.com Ltd. (NASDAQ:MNDY)

Allspring Global Investments Holdings LLC lessened its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 15.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 327,986 shares of the company’s stock after selling 57,857 shares during the period. Allspring Global Investments Holdings LLC owned about 0.68% of monday.com worth $75,814,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. FMR LLC increased its holdings in monday.com by 112.0% during the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after purchasing an additional 798,791 shares during the period. Jennison Associates LLC increased 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 valued at $195,606,000 after buying an additional 100,333 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of monday.com by 2.4% in the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock valued at $166,767,000 after acquiring an additional 14,304 shares in the last quarter. State Street Corp lifted its stake in monday.com by 3.8% in the third quarter. State Street Corp now owns 587,879 shares of the company’s stock worth $163,295,000 after acquiring an additional 21,585 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in monday.com by 2.9% during the 3rd quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock worth $150,079,000 after acquiring an additional 15,300 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Price Performance

NASDAQ MNDY opened at $317.73 on Thursday. The company has a market cap of $15.34 billion, a price-to-earnings ratio of 774.95, a PEG ratio of 7.67 and a beta of 1.31. The stock’s fifty day moving average price is $251.81 and its 200 day moving average price is $263.06. monday.com Ltd. has a 1 year low of $174.75 and a 1 year high of $342.64.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Monday. Oppenheimer upped their target price on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Needham & Company LLC increased their target price on monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday. William Blair reissued an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group raised their price objective on monday.com from $310.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $353.32.

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.