MML Investors Services LLC Sells 2,968 Shares of monday.com Ltd. (NASDAQ:MNDY)

MML Investors Services LLC lowered its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 35.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,409 shares of the company's stock after selling 2,968 shares during the quarter. MML Investors Services LLC's holdings in monday.com were worth $1,502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV increased its stake in shares of monday.com by 4.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company's stock valued at $271,000 after buying an additional 47 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of monday.com by 4.0% in the second quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company's stock valued at $314,000 after buying an additional 50 shares during the period. Avior Wealth Management LLC increased its stake in shares of monday.com by 2.6% in the third quarter. Avior Wealth Management LLC now owns 2,611 shares of the company's stock valued at $725,000 after buying an additional 67 shares during the period. FDx Advisors Inc. increased its stake in shares of monday.com by 4.7% in the second quarter. FDx Advisors Inc. now owns 2,000 shares of the company's stock valued at $482,000 after buying an additional 90 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in monday.com by 4.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company's stock valued at $497,000 after purchasing an additional 91 shares during the period. Institutional investors own 73.70% of the company's stock.

monday.com Trading Down 7.9 %

Shares of MNDY traded down $19.81 during trading hours on Wednesday, reaching $231.99. The stock had a trading volume of 2,941,839 shares, compared to its average volume of 741,178. monday.com Ltd. has a 12 month low of $170.00 and a 12 month high of $324.99. The firm has a 50-day simple moving average of $285.29 and a 200 day simple moving average of $258.89. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 565.83, a P/E/G ratio of 7.75 and a beta of 1.25.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company had revenue of $251.00 million for the quarter, compared to analysts' expectations of $246.17 million. During the same period last year, the business earned $0.15 EPS. monday.com's quarterly revenue was up 49.5% compared to the same quarter last year. On average, equities analysts forecast that monday.com Ltd. will post 0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MNDY shares. Scotiabank started coverage on shares of monday.com in a research report on Tuesday, November 19th. They set a "sector outperform" rating and a $325.00 target price for the company. KeyCorp downgraded shares of monday.com from an "overweight" rating to a "sector weight" rating in a research report on Friday, December 13th. Oppenheimer increased their target price on shares of monday.com from $275.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Barclays increased their target price on shares of monday.com from $300.00 to $325.00 and gave the company an "overweight" rating in a research report on Tuesday, October 1st. Finally, Tigress Financial increased their target price on shares of monday.com from $280.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, monday.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $309.62.

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.