ARK Investment Management LLC Sells 2,534 Shares of monday.com Ltd. (NASDAQ:MNDY)

ARK Investment Management LLC lowered its stake in monday.com Ltd. (NASDAQ:MNDY) by 28.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,387 shares of the company’s stock after selling 2,534 shares during the quarter. ARK Investment Management LLC’s holdings in monday.com were worth $1,504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MNDY. FMR LLC lifted its holdings in shares of monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after buying an additional 798,791 shares in the last quarter. Jennison Associates LLC increased its holdings in monday.com by 13.7% during the 4th quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock worth $195,606,000 after acquiring an additional 100,333 shares during the period. Westfield Capital Management Co. LP lifted its stake in monday.com by 2.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after purchasing an additional 14,304 shares in the last quarter. State Street Corp boosted its holdings in monday.com by 3.8% in the 3rd quarter. State Street Corp now owns 587,879 shares of the company’s stock valued at $163,295,000 after purchasing an additional 21,585 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in monday.com by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock valued at $150,079,000 after purchasing an additional 15,300 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MNDY shares. Jefferies Financial Group increased their price objective on monday.com from $300.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. The Goldman Sachs Group raised their price target on monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Canaccord Genuity Group boosted their price objective on monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Needham & Company LLC upped their price objective on shares of monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Robert W. Baird lifted their target price on shares of monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $358.32.

monday.com Price Performance

MNDY opened at $306.04 on Thursday. The stock’s 50 day simple moving average is $258.98 and its 200 day simple moving average is $269.54. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 510.07, a PEG ratio of 16.53 and a beta of 1.31. monday.com Ltd. has a 1 year low of $174.75 and a 1 year high of $342.64.

monday.com (NASDAQ:MNDY) last issued its earnings results 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 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 EPS for the current 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.