SG Americas Securities LLC Reduces Position in monday.com Ltd. (NASDAQ:MNDY)

SG Americas Securities LLC decreased its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 8.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,357 shares of the company’s stock after selling 4,021 shares during the quarter. SG Americas Securities LLC’s holdings in monday.com were worth $11,766,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC purchased a new stake in shares of monday.com in the second quarter valued at about $45,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after purchasing an additional 102 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of monday.com in the second quarter valued at about $69,000. PNC Financial Services Group Inc. grew its holdings in shares of monday.com by 373.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock valued at $74,000 after purchasing an additional 310 shares during the period. Finally, Industrial Alliance Investment Management Inc. boosted its stake in monday.com by 741.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $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 0.6 %

Shares of NASDAQ MNDY traded up $1.60 during trading on Friday, hitting $277.59. 400,891 shares of the company traded hands, compared to its average volume of 731,979. monday.com Ltd. has a 1 year low of $122.13 and a 1 year high of $285.64. The company has a 50-day moving average price of $253.59 and a 200-day moving average price of $230.51. The firm has a market capitalization of $13.40 billion, a P/E ratio of 730.50, a P/E/G ratio of 13.58 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The company had revenue of $236.11 million during the quarter, compared to analysts’ expectations of $227.96 million. Research analysts predict that monday.com Ltd. will post 0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MNDY. Robert W. Baird increased their price target on shares of monday.com from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Loop Capital raised their target price on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. TD Cowen raised their target price on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Tigress Financial increased their target price on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler reissued an “overweight” rating and set a $300.00 price target (up previously from $270.00) on shares of monday.com in a report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $296.16.

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.