Assenagon Asset Management S.A. Sells 480,668 Shares of monday.com Ltd. $MNDY

Assenagon Asset Management S.A. cut its holdings in monday.com Ltd. (NASDAQ:MNDY) by 98.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Several other institutional investors also recently modified their holdings of the business. Capital World Investors lifted its position in monday.com by 91.4% during the 4th quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock valued at $484,950,000 after acquiring an additional 1,569,198 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in monday.com by 15.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company’s stock worth $188,126,000 after acquiring an additional 165,996 shares in the last quarter. Renaissance Technologies LLC grew its holdings in monday.com by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,129,090 shares of the company’s stock worth $166,609,000 after purchasing an additional 74,800 shares during the period. SG Americas Securities LLC increased its stake in shares of 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 purchasing an additional 490,491 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of monday.com by 2.2% during the fourth quarter. Baillie Gifford & Co. now owns 723,655 shares of the company’s stock valued at $106,783,000 after purchasing an additional 15,377 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Stock Performance

Shares of NASDAQ MNDY opened at $79.77 on Friday. The firm’s 50 day moving average price is $75.70 and its 200-day moving average price is $90.68. monday.com Ltd. has a 52-week low of $57.50 and a 52-week high of $314.99. The company has a market cap of $4.08 billion, a PE ratio of 34.68, a P/E/G ratio of 3.82 and a beta of 1.26.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on MNDY shares. Canaccord Genuity Group lowered their target price on shares of monday.com from $140.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Citigroup cut their price target on monday.com from $176.00 to $154.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. TD Cowen raised 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. Zacks Research cut monday.com from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of monday.com in a report on Thursday, June 11th. Seventeen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.48.

monday.com Profile

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.