Assenagon Asset Management S.A. Cuts Holdings in monday.com Ltd. (NASDAQ:MNDY)

Assenagon Asset Management S.A. lowered its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,549 shares of the company’s stock after selling 11,713 shares during the quarter. Assenagon Asset Management S.A. owned 0.11% of monday.com worth $12,137,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC lifted its stake in monday.com by 17.2% in the fourth quarter. CWA Asset Management Group LLC now owns 3,199 shares of the company’s stock worth $753,000 after purchasing an additional 470 shares during the last quarter. Principal Financial Group Inc. grew its holdings in monday.com by 35.8% in the third quarter. Principal Financial Group Inc. now owns 53,306 shares of the company’s stock worth $14,807,000 after purchasing an additional 14,059 shares during the last quarter. American Trust purchased a new stake in shares of monday.com during the third quarter worth about $204,000. Wilmington Savings Fund Society FSB acquired a new position in monday.com during the 3rd quarter valued at approximately $469,000. Finally, Geode Capital Management LLC raised its stake in monday.com by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 330,777 shares of the company’s stock worth $91,447,000 after acquiring an additional 12,968 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Stock Up 0.6 %

NASDAQ:MNDY opened at $242.05 on Friday. The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of 590.37, a price-to-earnings-growth ratio of 5.41 and a beta of 1.30. The stock’s fifty day moving average is $256.02 and its two-hundred day moving average is $259.53. monday.com Ltd. has a 52 week low of $174.75 and a 52 week high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company’s revenue was up 49.5% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. On average, sell-side analysts expect that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on MNDY shares. Scotiabank dropped their price objective on shares of monday.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a report on Thursday. Capital One Financial assumed coverage on shares of monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price for the company. Canaccord Genuity Group lifted their price objective on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. DA Davidson reissued a “neutral” rating and set a $300.00 price objective on shares of monday.com in a research note on Tuesday, November 12th. Finally, Robert W. Baird raised their target price on monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $310.48.

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.