Public Employees Retirement System of Ohio Trims Holdings in monday.com Ltd. (NASDAQ:MNDY)

Public Employees Retirement System of Ohio decreased its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 72.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,305 shares of the company’s stock after selling 16,795 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in monday.com were worth $1,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of monday.com by 225.8% in the third quarter. Barclays PLC now owns 17,427 shares of the company’s stock valued at $4,840,000 after acquiring an additional 12,078 shares in the last quarter. R Squared Ltd purchased a new position in shares of monday.com during the fourth quarter worth about $33,000. Mediolanum International Funds Ltd purchased a new position in shares of monday.com during the fourth quarter worth about $905,000. Spire Wealth Management acquired a new stake in shares of monday.com during the fourth quarter worth about $125,000. Finally, Jennison Associates LLC boosted 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 worth $195,606,000 after buying an additional 100,333 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Stock Up 2.2%

Shares of NASDAQ MNDY opened at $304.08 on Tuesday. The company has a market cap of $15.44 billion, a price-to-earnings ratio of 506.80, a price-to-earnings-growth ratio of 16.53 and a beta of 1.32. monday.com Ltd. has a 12-month low of $188.01 and a 12-month high of $342.64. The firm’s 50-day simple moving average is $266.58 and its 200 day simple moving average is $265.31.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.40. monday.com had a return on equity of 6.22% and a net margin of 3.33%. The company had revenue of $282.25 million during the quarter, compared to analyst estimates of $275.93 million. During the same period in the previous year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, equities analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. KeyCorp raised shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price target for the company in a report on Tuesday, February 11th. JPMorgan Chase & Co. cut their price objective on shares of monday.com from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. UBS Group cut their price objective on shares of monday.com from $350.00 to $310.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Jefferies Financial Group lowered their target price on shares of monday.com from $400.00 to $360.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, DA Davidson reduced their target price on monday.com from $350.00 to $290.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $346.50.

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.