ShawSpring Partners LLC Decreases Stock Holdings in monday.com Ltd. (NASDAQ:MNDY)

ShawSpring Partners LLC lessened its holdings in monday.com Ltd. (NASDAQ:MNDY) by 15.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 350,530 shares of the company’s stock after selling 64,088 shares during the period. monday.com accounts for approximately 12.3% of ShawSpring Partners LLC’s portfolio, making the stock its 2nd largest holding. ShawSpring Partners LLC’s holdings in monday.com were worth $97,367,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after acquiring an additional 798,791 shares in the last quarter. Jennison Associates LLC increased its position in shares of monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after purchasing an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in monday.com by 431.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after purchasing an additional 313,279 shares in the last quarter. Renaissance Technologies LLC raised its stake in monday.com by 20.2% in the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after purchasing an additional 188,800 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in monday.com by 171.3% during the second quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock valued at $65,938,000 after purchasing an additional 172,919 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

monday.com Stock Performance

NASDAQ:MNDY opened at $293.00 on Wednesday. The stock has a 50-day simple moving average of $282.80 and a two-hundred day simple moving average of $252.52. The firm has a market capitalization of $14.15 billion, a PE ratio of 714.63, a P/E/G ratio of 8.25 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.

monday.com (NASDAQ:MNDY) last released 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. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 EPS. Equities analysts forecast that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Loop Capital upped their price objective on monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. DA Davidson reissued a “neutral” rating and set a $300.00 price objective on shares of monday.com in a report on Tuesday, November 12th. Scotiabank assumed coverage on monday.com in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 target price for the company. Finally, Tigress Financial lifted their price target on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $310.81.

monday.com 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.