Alliancebernstein L.P. Sells 86,543 Shares of monday.com Ltd. (NASDAQ:MNDY)

Alliancebernstein L.P. decreased its holdings in monday.com Ltd. (NASDAQ:MNDY) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 573,230 shares of the company’s stock after selling 86,543 shares during the quarter. Alliancebernstein L.P. owned about 1.19% of monday.com worth $134,961,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of monday.com by 49.2% in the 4th quarter. Wellington Management Group LLP now owns 41,959 shares of the company’s stock worth $9,879,000 after purchasing an additional 13,827 shares during the period. Clearbridge Investments LLC raised its stake in monday.com by 0.3% in the fourth quarter. Clearbridge Investments LLC now owns 13,501 shares of the company’s stock worth $3,179,000 after buying an additional 44 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in monday.com by 264.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company’s stock worth $126,407,000 after buying an additional 403,255 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in monday.com by 23.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 499,950 shares of the company’s stock valued at $117,708,000 after acquiring an additional 96,222 shares in the last quarter. Finally, DnB Asset Management AS grew its holdings in shares of monday.com by 1.7% during the 4th quarter. DnB Asset Management AS now owns 6,534 shares of the company’s stock worth $1,538,000 after acquiring an additional 109 shares during the period. Institutional investors own 73.70% of the company’s stock.

monday.com Price Performance

Shares of monday.com stock opened at $262.18 on Wednesday. monday.com Ltd. has a 1-year low of $174.75 and a 1-year high of $342.64. The company’s fifty day simple moving average is $273.31 and its 200-day simple moving average is $270.37. The stock has a market capitalization of $13.31 billion, a PE ratio of 436.97, a P/E/G ratio of 16.53 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last announced 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, research analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird raised their target price on monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. DA Davidson raised monday.com from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research report on Monday, March 17th. Barclays boosted their target price on shares of monday.com from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Finally, Tigress Financial boosted their price objective on shares of monday.com from $340.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $352.64.

monday.com 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.