Citigroup Inc. Sells 8,610 Shares of monday.com Ltd. (NASDAQ:MNDY)

Citigroup Inc. decreased its holdings in monday.com Ltd. (NASDAQ:MNDY) by 18.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,468 shares of the company’s stock after selling 8,610 shares during the quarter. Citigroup Inc. owned 0.08% of monday.com worth $10,407,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of monday.com during the third quarter valued at approximately $43,000. Ridgewood Investments LLC purchased a new position in monday.com during the 2nd quarter worth $45,000. Gilliland Jeter Wealth Management LLC grew its stake in shares of monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after acquiring an additional 102 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of monday.com in the second quarter valued at about $69,000. Finally, Toronto Dominion Bank bought a new position in shares of monday.com during the second quarter valued at about $120,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Stock Down 2.1 %

MNDY opened at $286.95 on Friday. The business’s fifty day simple moving average is $284.00 and its 200 day simple moving average is $253.54. monday.com Ltd. has a 52 week low of $170.00 and a 52 week high of $324.99. The stock has a market cap of $13.85 billion, a PE ratio of 699.88, a P/E/G ratio of 8.25 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. During the same quarter in the previous year, the company posted $0.15 EPS. monday.com’s quarterly revenue was up 49.5% compared to the same quarter last year. As a group, equities analysts anticipate that monday.com Ltd. will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

MNDY has been the topic of several recent analyst reports. Bank of America lifted their target price on shares of monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Barclays boosted their price objective on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Canaccord Genuity Group raised their target price on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. TD Cowen increased their price target on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, UBS Group raised their price target on shares of monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $310.81.

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.