Pier 88 Investment Partners LLC Sells 2,190 Shares of monday.com Ltd. (NASDAQ:MNDY)

Pier 88 Investment Partners LLC trimmed its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 48.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,340 shares of the company's stock after selling 2,190 shares during the quarter. Pier 88 Investment Partners LLC's holdings in monday.com were worth $551,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MNDY. Stonebridge Financial Group LLC purchased a new stake in monday.com during the 4th quarter worth approximately $25,000. Arcadia Investment Management Corp MI purchased a new position in shares of monday.com during the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new stake in shares of monday.com in the fourth quarter valued at $33,000. Signaturefd LLC boosted its position in monday.com by 157.1% in the 4th quarter. Signaturefd LLC now owns 144 shares of the company's stock valued at $34,000 after buying an additional 88 shares during the period. Finally, Global Retirement Partners LLC grew its stake in monday.com by 64.8% during the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company's stock worth $35,000 after purchasing an additional 59 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on MNDY shares. DA Davidson upgraded shares of monday.com from a "neutral" rating to a "buy" rating and set a $350.00 price objective for the company in a research report on Monday, March 17th. Citigroup upgraded monday.com from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. Needham & Company LLC increased their target price on monday.com from $350.00 to $400.00 and gave the company a "buy" rating in a report on Monday, February 10th. Piper Sandler raised their price target on shares of monday.com from $345.00 to $385.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, The Goldman Sachs Group lifted their price objective on shares of monday.com from $350.00 to $400.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $352.64.

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monday.com Stock Down 7.7 %

Shares of NASDAQ:MNDY traded down $18.01 on Friday, hitting $215.62. 865,704 shares of the company traded hands, compared to its average volume of 1,014,236. monday.com Ltd. has a 52 week low of $174.75 and a 52 week high of $342.64. The stock has a 50 day simple moving average of $273.26 and a 200-day simple moving average of $270.09. The company has a market cap of $10.95 billion, a PE ratio of 357.78, a PEG ratio of 16.53 and a beta of 1.27.

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 analysts' consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. As a group, sell-side analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current 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.