Clearbridge Investments LLC Sells 55,437 Shares of monday.com Ltd. $MNDY

Clearbridge Investments LLC lowered its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 22.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,671 shares of the company’s stock after selling 55,437 shares during the quarter. Clearbridge Investments LLC’s holdings in monday.com were worth $27,693,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in monday.com by 76.5% during the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock worth $47,000 after purchasing an additional 65 shares during the period. CoreCap Advisors LLC boosted its position in monday.com by 29.8% during the fourth quarter. CoreCap Advisors LLC now owns 388 shares of the company’s stock worth $57,000 after purchasing an additional 89 shares during the period. Rafferty Asset Management LLC boosted its position in monday.com by 5.3% during the third quarter. Rafferty Asset Management LLC now owns 1,802 shares of the company’s stock worth $349,000 after purchasing an additional 91 shares during the period. NewEdge Advisors LLC boosted its position in monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the period. Finally, Swiss Life Asset Management Ltd boosted its position in monday.com by 4.1% during the third quarter. Swiss Life Asset Management Ltd now owns 3,523 shares of the company’s stock worth $682,000 after purchasing an additional 138 shares during the period. Institutional investors own 73.70% of the company’s stock.

monday.com Trading Down 0.6%

MNDY opened at $83.23 on Wednesday. monday.com Ltd. has a 1-year low of $57.50 and a 1-year high of $316.98. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 36.19, a P/E/G ratio of 4.19 and a beta of 1.24. The business has a 50 day moving average of $72.90 and a 200-day moving average of $100.00.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. The company had revenue of $351.27 million during the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%. Equities analysts predict that monday.com Ltd. will post 1.59 EPS for the current year.

Analyst Ratings Changes

MNDY has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on monday.com from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Jefferies Financial Group reissued a “hold” rating on shares of monday.com in a research report on Tuesday, May 12th. Barclays increased their price objective on monday.com from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Zacks Research cut monday.com from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Canaccord Genuity Group reduced their price objective on monday.com from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, monday.com currently has an average rating of “Moderate Buy” and an average target price of $126.48.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.