Y Intercept Hong Kong Ltd Reduces Position in monday.com Ltd. $MNDY

Y Intercept Hong Kong Ltd decreased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 12.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,419 shares of the company’s stock after selling 8,706 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.12% of monday.com worth $4,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. NewEdge Advisors LLC lifted its stake in shares of monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after buying an additional 106 shares during the period. Advisory Services Network LLC acquired a new position in shares of monday.com in the 3rd quarter valued at $28,000. Quarry LP purchased a new position in monday.com in the 4th quarter worth $29,000. Abound Wealth Management purchased a new position in monday.com in the 4th quarter worth $30,000. Finally, Huntington National Bank lifted its position in monday.com by 6,040.0% during the 4th quarter. Huntington National Bank now owns 307 shares of the company’s stock worth $45,000 after acquiring an additional 302 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Price Performance

Shares of MNDY stock opened at $79.77 on Monday. monday.com Ltd. has a 52-week low of $57.50 and a 52-week high of $314.99. The stock has a market cap of $4.08 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 3.99 and a beta of 1.26. The business has a 50-day simple moving average of $75.90 and a 200-day simple moving average of $90.18.

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

Wall Street Analyst Weigh In

MNDY has been the topic of a number of research reports. Wall Street Zen lowered monday.com from a “buy” rating to a “hold” rating in a report on Saturday. BTIG Research decreased their target price on monday.com from $135.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. TD Cowen lifted their target price on monday.com from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Piper Sandler upped their target price on monday.com from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of monday.com in a report on Thursday, June 11th. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.