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

ARK Investment Management LLC trimmed its position in monday.com Ltd. (NASDAQ:MNDY) by 28.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,387 shares of the company’s stock after selling 2,534 shares during the period. ARK Investment Management LLC’s holdings in monday.com were worth $1,504,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Loop Capital lowered their target price on shares of monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Wells Fargo & Company increased their price objective on monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. William Blair reaffirmed an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Tigress Financial increased their price target on monday.com from $340.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald lifted their price objective on shares of monday.com from $292.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and twenty 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 $358.32.

monday.com Price Performance

Shares of NASDAQ MNDY opened at $306.04 on Thursday. The stock has a market capitalization of $14.77 billion, a PE ratio of 510.07, a P/E/G ratio of 16.53 and a beta of 1.31. monday.com Ltd. has a one year low of $174.75 and a one year high of $342.64. The business’s fifty day moving average price is $258.98 and its 200-day moving average price is $269.54.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, February 10th. The company reported $0.50 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%. As a group, equities analysts expect that monday.com Ltd. will post 0.46 EPS 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.