SG Americas Securities LLC Sells 4,021 Shares of monday.com Ltd. (NASDAQ:MNDY)

SG Americas Securities LLC reduced its position in monday.com Ltd. (NASDAQ:MNDY) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,357 shares of the company’s stock after selling 4,021 shares during the quarter. SG Americas Securities LLC owned approximately 0.09% of monday.com worth $11,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of monday.com by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock worth $714,781,000 after acquiring an additional 31,304 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of monday.com by 20.2% during the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after acquiring an additional 188,800 shares during the last quarter. Jennison Associates LLC boosted its position in shares of monday.com by 12.1% during the first quarter. Jennison Associates LLC now owns 782,154 shares of the company’s stock worth $176,665,000 after acquiring an additional 84,182 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of monday.com by 34.4% during the second quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock worth $160,707,000 after acquiring an additional 170,800 shares during the last quarter. Finally, Eminence Capital LP boosted its position in shares of monday.com by 1.4% during the second quarter. Eminence Capital LP now owns 470,717 shares of the company’s stock worth $113,330,000 after acquiring an additional 6,349 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

monday.com Price Performance

NASDAQ:MNDY traded up $1.60 during trading hours on Friday, hitting $277.59. 400,891 shares of the company were exchanged, compared to its average volume of 731,979. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 730.50, a PEG ratio of 13.58 and a beta of 1.32. monday.com Ltd. has a 52-week low of $122.13 and a 52-week high of $285.64. The company’s 50 day moving average price is $253.59 and its 200-day moving average price is $230.51.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 12th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.23. The company 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%. On average, equities analysts predict that monday.com Ltd. will post 0.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MNDY shares. Barclays increased their price objective on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday. Baird R W upgraded shares of monday.com to a “hold” rating in a research report on Tuesday, July 23rd. William Blair reiterated an “outperform” rating on shares of monday.com in a research report on Monday, June 24th. Piper Sandler reiterated an “overweight” rating and set a $300.00 price objective (up previously from $270.00) on shares of monday.com in a research report on Monday, August 12th. Finally, Robert W. Baird increased their target price on shares of monday.com from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and a consensus target price of $296.16.

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.