TenCore Partners LP Sells 13,500 Shares of monday.com Ltd. $MNDY

TenCore Partners LP cut its position in monday.com Ltd. (NASDAQ:MNDY) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,890 shares of the company’s stock after selling 13,500 shares during the period. monday.com accounts for about 9.6% of TenCore Partners LP’s investment portfolio, making the stock its 3rd biggest position. TenCore Partners LP owned 0.25% of monday.com worth $18,871,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC raised its stake in shares of monday.com by 2.8% in the third quarter. WCM Investment Management LLC now owns 4,184,745 shares of the company’s stock worth $843,519,000 after acquiring an additional 115,353 shares during the last quarter. Ibex Investors LLC bought a new position in shares of monday.com in the third quarter worth about $34,864,000. Thrivent Financial for Lutherans raised its stake in shares of monday.com by 76.6% in the third quarter. Thrivent Financial for Lutherans now owns 313,112 shares of the company’s stock worth $60,646,000 after acquiring an additional 135,797 shares during the last quarter. Capital World Investors raised its stake in shares of monday.com by 231.2% in the third quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock worth $332,617,000 after acquiring an additional 1,198,761 shares during the last quarter. Finally, AMS Capital Ltda bought a new position in shares of monday.com in the fourth quarter worth about $4,055,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Price Performance

MNDY opened at $95.47 on Tuesday. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 41.51, a price-to-earnings-growth ratio of 4.58 and a beta of 1.24. The firm has a 50 day simple moving average of $71.08 and a 200 day simple moving average of $102.93. monday.com Ltd. has a fifty-two week low of $57.50 and a fifty-two week high of $316.98.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The business had revenue of $351.27 million during the quarter. As a group, analysts expect that monday.com Ltd. will post 1.45 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on MNDY. Canaccord Genuity Group dropped their target price on shares of monday.com from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. TD Cowen boosted their target price on shares of monday.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $90.00 target price (down from $175.00) on shares of monday.com in a research note on Tuesday, February 10th. Wells Fargo & Company dropped their target price on shares of monday.com from $200.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. Finally, Piper Sandler boosted their target price on shares of monday.com from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.48.

monday.com 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.