California Public Employees Retirement System Sells 4,827 Shares of monday.com Ltd. (NASDAQ:MNDY)

California Public Employees Retirement System cut its stake in monday.com Ltd. (NASDAQ:MNDY) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,537 shares of the company’s stock after selling 4,827 shares during the period. California Public Employees Retirement System owned 0.13% of monday.com worth $15,195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of MNDY. Norges Bank bought a new position in monday.com in the 4th quarter worth approximately $116,686,000. SG Americas Securities LLC increased its stake in shares of monday.com by 1,024.7% in the 4th quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock valued at $112,162,000 after buying an additional 434,035 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of monday.com in the 4th quarter valued at $27,010,000. Jennison Associates LLC lifted its stake in shares of monday.com by 13.7% during the fourth quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock valued at $195,606,000 after acquiring an additional 100,333 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in monday.com by 23.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 499,950 shares of the company’s stock valued at $117,708,000 after acquiring an additional 96,222 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MNDY. Piper Sandler upped their target price on shares of monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Robert W. Baird increased their price objective on shares of monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their target price on shares of monday.com from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. DA Davidson raised monday.com from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a research note on Monday, March 17th. Finally, Barclays raised their price target on monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $352.64.

monday.com Stock Down 6.8 %

NASDAQ:MNDY opened at $217.77 on Friday. monday.com Ltd. has a twelve month low of $174.75 and a twelve month high of $342.64. The company has a market cap of $11.06 billion, a P/E ratio of 362.95, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27. The business has a 50 day moving average price of $272.65 and a two-hundred day moving average price of $269.77.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. As a group, analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

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.