Acadian Asset Management LLC Sells 264,449 Shares of monday.com Ltd. (NASDAQ:MNDY)

Acadian Asset Management LLC reduced its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 38.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 424,461 shares of the company’s stock after selling 264,449 shares during the quarter. Acadian Asset Management LLC owned 0.88% of monday.com worth $102,166,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in shares of monday.com during the second quarter valued at approximately $45,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after purchasing an additional 102 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of monday.com by 2.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,044 shares of the company’s stock valued at $65,000 after purchasing an additional 691 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of monday.com during the second quarter valued at $69,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of monday.com by 373.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock valued at $74,000 after buying an additional 310 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Stock Performance

Shares of MNDY stock opened at $241.08 on Friday. The stock has a fifty day simple moving average of $241.98 and a two-hundred day simple moving average of $224.24. The firm has a market capitalization of $11.64 billion, a PE ratio of 634.42, a PEG ratio of 12.99 and a beta of 1.32. monday.com Ltd. has a 52-week low of $122.13 and a 52-week high of $272.77.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.23. The firm had revenue of $236.11 million during the quarter, compared to analysts’ expectations of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. On average, sell-side analysts forecast that monday.com Ltd. will post 0.49 EPS for the current fiscal year.

Analyst Ratings Changes

MNDY has been the topic of several research analyst reports. Barclays upped their target price on shares of monday.com from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. KeyCorp dropped their target price on shares of monday.com from $280.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Piper Sandler reiterated an “overweight” rating and set a $300.00 target price (up from $270.00) on shares of monday.com in a research note on Monday, August 12th. Robert W. Baird raised their price target on monday.com from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Wolfe Research assumed coverage on monday.com in a research report on Tuesday, July 9th. They set an “outperform” rating and a $300.00 price objective for the company. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $285.79.

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.