Ion Asset Management Ltd. Sells 6,000 Shares of monday.com Ltd. (NASDAQ:MNDY)

Ion Asset Management Ltd. lowered its holdings in monday.com Ltd. (NASDAQ:MNDY) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,000 shares of the company’s stock after selling 6,000 shares during the period. monday.com comprises about 0.7% of Ion Asset Management Ltd.’s portfolio, making the stock its 18th largest holding. Ion Asset Management Ltd. owned 0.10% of monday.com worth $11,537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNDY. Northern Trust Corp increased its position in shares of monday.com by 15.6% in the fourth quarter. Northern Trust Corp now owns 390,404 shares of the company’s stock valued at $91,917,000 after acquiring an additional 52,804 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in monday.com by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 13,623 shares of the company’s stock valued at $3,207,000 after purchasing an additional 274 shares in the last quarter. KP Management LLC increased its position in shares of monday.com by 43.5% during the 4th quarter. KP Management LLC now owns 16,500 shares of the company’s stock worth $3,885,000 after purchasing an additional 5,000 shares during the last quarter. Melqart Asset Management UK Ltd raised its stake in shares of monday.com by 301.0% during the 4th quarter. Melqart Asset Management UK Ltd now owns 69,883 shares of the company’s stock worth $16,453,000 after purchasing an additional 52,454 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of monday.com in the 4th quarter valued at approximately $882,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $274.56 on Tuesday. The company’s 50 day simple moving average is $258.88 and its 200 day simple moving average is $265.93. monday.com Ltd. has a 1 year low of $179.02 and a 1 year high of $342.64. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 457.60, a price-to-earnings-growth ratio of 16.53 and a beta of 1.34.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. As a group, analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on MNDY. Piper Sandler dropped their price target on shares of monday.com from $385.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird raised their target price on shares of monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Needham & Company LLC lifted their price target on monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Citigroup raised monday.com from a “neutral” rating to a “buy” rating and cut their price objective for the company from $302.00 to $298.00 in a research report on Thursday, January 16th. Finally, KeyCorp upgraded monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 target price for the company in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $343.09.

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.