Summit Trail Advisors LLC Sells 1,065 Shares of monday.com Ltd. (NASDAQ:MNDY)

Summit Trail Advisors LLC cut its holdings in monday.com Ltd. (NASDAQ:MNDY) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,407 shares of the company’s stock after selling 1,065 shares during the quarter. Summit Trail Advisors LLC owned 0.11% of monday.com worth $14,557,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in monday.com in the 3rd quarter worth approximately $43,000. Ridgewood Investments LLC purchased a new stake in monday.com during the second quarter valued at $45,000. Gilliland Jeter Wealth Management LLC increased its position in monday.com by 72.9% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after acquiring an additional 102 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in monday.com in the second quarter valued at about $69,000. Finally, Industrial Alliance Investment Management Inc. boosted its position in monday.com by 741.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after purchasing an additional 356 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Loop Capital upped their price target on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Scotiabank began coverage on shares of monday.com in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 target price for the company. Wells Fargo & Company lifted their price target on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Citigroup upped their price objective on monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group raised their target price on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.81.

monday.com Stock Performance

Shares of NASDAQ MNDY opened at $284.59 on Friday. The company has a market cap of $13.74 billion, a P/E ratio of 694.12, a P/E/G ratio of 7.70 and a beta of 1.31. monday.com Ltd. has a 52-week low of $170.00 and a 52-week high of $324.99. The firm’s fifty day moving average is $282.14 and its two-hundred day moving average is $251.25.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The firm had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $246.17 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The business’s revenue was up 49.5% compared to the same quarter last year. As a group, analysts forecast that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

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.