What Happened?
Shares of work management platform monday.com (NASDAQ: MNDY) fell 2.9% in the afternoon session after a regulatory filing signaled an insider's intent to sell a notable block of shares.
A Form 144 was filed for a proposed sale of 7,000 ordinary shares, valued at approximately $1.3 million. Such filings are required when corporate insiders plan to sell company stock, and they can sometimes attract investor scrutiny. The document also revealed that the same seller had recently disposed of over 30,000 shares in the preceding months, generating gross proceeds of more than $8.3 million. This pattern of selling by a company insider may have raised concerns among investors about the stock's near-term outlook, contributing to the downward pressure on the share price.
The shares closed the day at $211.98, down 3.3% from previous close.
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What Is The Market Telling Us
monday.com’s shares are very volatile and have had 29 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 3 days ago when the stock gained 6.2% on the news that investment firm DA Davidson reiterated its Buy rating on the stock while maintaining its $275 price target. The firm's renewed confidence followed its attendance at monday.com's Elevate user conference in New York City, where it noted positive long-term growth prospects. The price target represented significant potential upside from the stock's price at the time.
monday.com is down 7.4% since the beginning of the year, and at $213.99 per share, it is trading 34.7% below its 52-week high of $327.92 from February 2025. Investors who bought $1,000 worth of monday.com’s shares at the IPO in June 2021 would now be looking at an investment worth $1,196.
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