Assenagon Asset Management S.A. Cuts Stock Position in monday.com Ltd. $MNDY

Assenagon Asset Management S.A. cut its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 98.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,388 shares of the company’s stock after selling 480,668 shares during the quarter. Assenagon Asset Management S.A.’s holdings in monday.com were worth $511,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Capital World Investors raised its position in monday.com by 231.2% in the 3rd quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock worth $332,617,000 after purchasing an additional 1,198,761 shares during the period. AMS Capital Ltda bought a new stake in monday.com in the fourth quarter worth $4,055,000. Dorsal Capital Management LP boosted its position in monday.com by 13.3% during the third quarter. Dorsal Capital Management LP now owns 425,000 shares of the company’s stock valued at $82,318,000 after buying an additional 50,000 shares during the period. SG Americas Securities LLC boosted its position in monday.com by 110.9% during the fourth quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock valued at $137,660,000 after buying an additional 490,491 shares during the period. Finally, BW Gestao de Investimentos Ltda. bought a new position in shares of monday.com during the third quarter valued at about $6,299,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Stock Up 4.6%

NASDAQ:MNDY opened at $79.77 on Friday. The firm’s fifty day simple moving average is $75.70 and its 200 day simple moving average is $90.68. The stock has a market cap of $4.08 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 3.82 and a beta of 1.26. monday.com Ltd. has a twelve month low of $57.50 and a twelve month high of $314.99.

monday.com (NASDAQ:MNDY) last posted its earnings results on Friday, March 13th. The company reported $1.15 EPS for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The firm had revenue of $351.26 million during the quarter. On average, analysts expect that monday.com Ltd. will post 1.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MNDY has been the subject of a number of recent research reports. UBS Group lowered their target price on monday.com from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Tigress Financial decreased their price target on monday.com to $165.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. TD Cowen boosted their price objective on monday.com from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Oppenheimer set a $115.00 price objective on monday.com in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded shares of monday.com from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, monday.com presently has an average rating of “Moderate Buy” and an average target price of $126.48.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.