Allspring Global Investments Holdings LLC Reduces Stake in monday.com Ltd. (NASDAQ:MNDY)

Allspring Global Investments Holdings LLC trimmed its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 327,986 shares of the company's stock after selling 57,857 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.68% of monday.com worth $75,814,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MNDY. Stonebridge Financial Group LLC purchased a new position in shares of monday.com in the fourth quarter worth about $25,000. R Squared Ltd purchased a new position in shares of monday.com in the fourth quarter worth about $33,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in monday.com during the third quarter worth about $43,000. Spire Wealth Management acquired a new stake in monday.com during the fourth quarter worth about $125,000. Finally, Vestcor Inc grew its holdings in monday.com by 31.4% during the third quarter. Vestcor Inc now owns 519 shares of the company's stock worth $144,000 after acquiring an additional 124 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Performance

Shares of monday.com stock traded down $1.83 during trading hours on Friday, hitting $318.50. The company's stock had a trading volume of 508,475 shares, compared to its average volume of 919,102. monday.com Ltd. has a twelve month low of $174.75 and a twelve month high of $342.64. The firm has a fifty day moving average of $252.94 and a 200-day moving average of $264.55. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 776.83, a P/E/G ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a net margin of 2.39% and a return on equity of 4.99%. On average, sell-side analysts expect that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on MNDY shares. Scotiabank raised their price objective on monday.com from $300.00 to $400.00 and gave the company a "sector outperform" rating in a report on Tuesday, February 11th. William Blair reissued an "outperform" rating on shares of monday.com in a report on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on monday.com from $350.00 to $400.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Robert W. Baird raised their price objective on monday.com from $275.00 to $335.00 and gave the company a "neutral" rating in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald raised their price objective on monday.com from $292.00 to $380.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $353.32.

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.