monday.com Ltd. (NASDAQ:MNDY) is Whetstone Capital Advisors LLC’s 2nd Largest Position

Whetstone Capital Advisors LLC trimmed its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,083 shares of the company’s stock after selling 601 shares during the quarter. monday.com makes up about 10.6% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. Whetstone Capital Advisors LLC owned approximately 0.16% of monday.com worth $21,967,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC boosted its position in shares of monday.com by 77.5% during the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after acquiring an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in monday.com by 431.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after buying an additional 313,279 shares during the last quarter. Renaissance Technologies LLC grew its holdings in monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after buying an additional 188,800 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of monday.com by 171.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock worth $65,938,000 after acquiring an additional 172,919 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of monday.com by 34.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after acquiring an additional 170,800 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Price Performance

NASDAQ:MNDY opened at $292.00 on Monday. The firm has a market cap of $14.10 billion, a price-to-earnings ratio of 694.12, a price-to-earnings-growth ratio of 7.93 and a beta of 1.31. The company has a 50 day moving average price of $282.14 and a 200-day moving average price of $251.71. monday.com Ltd. has a 1-year low of $170.00 and a 1-year high of $324.99.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on MNDY. UBS Group upped their price target on shares of monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Needham & Company LLC increased their price target on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group raised their price objective on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Scotiabank began coverage on monday.com in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 target price on the stock. Five investment 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $310.81.

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.