Westfield Capital Management Co. LP Sells 679,364 Shares of monday.com Ltd. $MNDY

Westfield Capital Management Co. LP lowered its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 98.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,955 shares of the company’s stock after selling 679,364 shares during the period. Westfield Capital Management Co. LP’s holdings in monday.com were worth $2,059,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ibex Investors LLC bought a new position in shares of monday.com in the third quarter worth approximately $34,864,000. TenCore Partners LP lifted its stake in shares of monday.com by 42.2% in the third quarter. TenCore Partners LP now owns 141,390 shares of the company’s stock worth $27,386,000 after buying an additional 41,935 shares in the last quarter. Capital World Investors lifted its stake in shares of monday.com by 231.2% in the third quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock worth $332,617,000 after buying an additional 1,198,761 shares in the last quarter. AMS Capital Ltda bought a new position in shares of monday.com in the fourth quarter worth approximately $4,055,000. Finally, Dorsal Capital Management LP lifted its stake in shares of monday.com by 13.3% in the third quarter. Dorsal Capital Management LP now owns 425,000 shares of the company’s stock worth $82,318,000 after buying an additional 50,000 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

monday.com Stock Down 1.8%

Shares of monday.com stock opened at $85.74 on Friday. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 37.28, a price-to-earnings-growth ratio of 4.29 and a beta of 1.24. The company’s 50 day moving average is $72.27 and its 200 day moving average is $101.30. monday.com Ltd. has a twelve month low of $57.50 and a twelve month high of $316.98.

monday.com (NASDAQ:MNDY) last announced its earnings results on Friday, March 13th. The company reported $1.15 EPS for the quarter. The business had revenue of $351.27 million during the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. Sell-side analysts expect that monday.com Ltd. will post 1.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MNDY. Oppenheimer set a $115.00 target price on shares of monday.com in a research note on Monday, May 11th. Wolfe Research reiterated an “outperform” rating and issued a $95.00 target price on shares of monday.com in a research note on Monday, February 9th. Jefferies Financial Group reiterated a “hold” rating on shares of monday.com in a research note on Tuesday, May 12th. Needham & Company LLC dropped their target price on shares of monday.com from $250.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Finally, Citigroup dropped their target price on shares of monday.com from $176.00 to $154.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and an average price target of $126.48.

monday.com Company 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.