Concentric Capital Strategies LP Sells 10,089 Shares of monday.com Ltd. (NASDAQ:MNDY)

Concentric Capital Strategies LP cut its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 79.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,685 shares of the company's stock after selling 10,089 shares during the quarter. Concentric Capital Strategies LP's holdings in monday.com were worth $746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MNDY. FMR LLC lifted its position in 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. Renaissance Technologies LLC lifted its position in monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company's stock valued at $270,299,000 after acquiring an additional 188,800 shares in the last quarter. Jennison Associates LLC lifted its position in monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company's stock valued at $202,905,000 after acquiring an additional 318,837 shares in the last quarter. 1832 Asset Management L.P. lifted its position in monday.com by 34.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company's stock valued at $160,707,000 after acquiring an additional 170,800 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in monday.com by 2.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company's stock valued at $166,767,000 after acquiring an additional 14,304 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MNDY shares. The Goldman Sachs Group boosted their price objective on shares of monday.com from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Tuesday, August 13th. Barclays boosted their price objective on shares of monday.com from $300.00 to $325.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. upped their price target on shares of monday.com from $270.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, August 13th. Robert W. Baird boosted their price objective on shares of monday.com from $265.00 to $270.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Finally, Piper Sandler upped their price target 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. Five research 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $310.81.

monday.com Stock Performance

monday.com stock traded up $12.00 during mid-day trading on Wednesday, hitting $292.80. 1,031,512 shares of the company traded hands, compared to its average volume of 729,236. monday.com Ltd. has a one year low of $170.00 and a one year high of $324.99. The stock has a market cap of $14.14 billion, a price-to-earnings ratio of 712.85, a price-to-earnings-growth ratio of 7.65 and a beta of 1.25. The stock has a fifty day moving average price of $284.27 and a 200-day moving average price of $255.94.

monday.com (NASDAQ:MNDY - Get Free Report) last released its earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same quarter last year, the firm earned $0.15 EPS. The firm's quarterly revenue was up 49.5% compared to the same quarter last year. Sell-side analysts predict that monday.com Ltd. will post 0.85 EPS for the current year.

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.