Rakuten Securities Inc. Reduces Stock Holdings in monday.com Ltd. (NASDAQ:MNDY)

Rakuten Securities Inc. lessened its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,586 shares of the company’s stock after selling 713 shares during the quarter. monday.com makes up approximately 0.8% of Rakuten Securities Inc.’s holdings, making the stock its 24th largest holding. Rakuten Securities Inc.’s holdings in monday.com were worth $2,021,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC lifted its stake in shares of monday.com by 64.8% in the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock valued at $35,000 after purchasing an additional 59 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of monday.com by 2.6% in the 3rd quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after acquiring an additional 67 shares during the last quarter. Venturi Wealth Management LLC boosted its position in monday.com by 7.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,076 shares of the company’s stock valued at $253,000 after purchasing an additional 76 shares during the period. Northwest & Ethical Investments L.P. boosted its position in monday.com by 18.2% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after acquiring an additional 100 shares during the period. Finally, Stonebridge Financial Group LLC acquired a new position in monday.com during the 4th quarter worth $25,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Stock Performance

MNDY opened at $242.82 on Wednesday. The business’s 50-day simple moving average is $265.04 and its 200 day simple moving average is $269.85. The firm has a market capitalization of $11.72 billion, a PE ratio of 404.70, a PEG ratio of 16.53 and a beta of 1.27. monday.com Ltd. has a 52-week low of $174.75 and a 52-week high of $342.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. On average, research analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MNDY. Loop Capital decreased their target price on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. KeyCorp raised monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price target for the company in a research note on Tuesday, February 11th. DA Davidson increased their price objective on monday.com from $300.00 to $350.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Robert W. Baird increased 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, Citigroup raised monday.com from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $302.00 to $298.00 in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.32.

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.