Summit Trail Advisors LLC Sells 1,576 Shares of monday.com Ltd. (NASDAQ:MNDY)

Summit Trail Advisors LLC decreased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 53,472 shares of the company’s stock after selling 1,576 shares during the quarter. Summit Trail Advisors LLC owned 0.11% of monday.com worth $12,874,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in MNDY. WCM Investment Management LLC acquired a new position in monday.com in the 1st quarter valued at approximately $728,521,000. Baillie Gifford & Co. acquired a new position in shares of monday.com in the first quarter valued at $76,534,000. Clearbridge Investments LLC lifted its position in monday.com by 2,851.5% in the first quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after purchasing an additional 332,852 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of monday.com during the 4th quarter worth about $58,689,000. Finally, Norges Bank acquired a new stake in shares of monday.com during the 4th quarter valued at about $57,754,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Trading Up 2.1 %

Shares of NASDAQ:MNDY opened at $280.17 on Friday. The stock has a market capitalization of $13.53 billion, a PE ratio of 737.29, a PEG ratio of 12.23 and a beta of 1.32. The firm has a 50 day moving average of $244.98 and a 200-day moving average of $226.74. monday.com Ltd. has a 12 month low of $122.13 and a 12 month high of $281.26.

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

Analyst Ratings Changes

Several brokerages recently commented on MNDY. Bank of America boosted their price target on monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 price target (up from $270.00) on shares of monday.com in a report on Monday, August 12th. Wolfe Research started coverage on shares of monday.com in a report on Tuesday, July 9th. They set an “outperform” rating and a $300.00 price objective on the stock. UBS Group raised their price target on shares of monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group upped their price objective on monday.com from $250.00 to $295.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, monday.com presently has an average rating of “Moderate Buy” and an average price target of $285.79.

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.