What to Know About a $38 Million Bet on monday.com Amid a 75% Stock Drop

On May 14, 2026, Conifer Management disclosed a new position in monday.com (NASDAQ:MNDY), acquiring 400,000 shares in the first quarter—an estimated $38.39 million trade based on quarterly average pricing.

What happened

According to a Securities and Exchange Commission (SEC) filing dated May 14, 2026, Conifer Management reported acquiring 400,000 shares of monday.com during the first quarter. The estimated transaction value was $38.39 million, based on the average closing price over the quarter. The quarter-end value of the position stood at $27.64 million, including the effects of any price fluctuation through March 31, 2026.

What else to know

• This was a new position for Conifer, representing 5% of its 13F reportable AUM after the trade.
• Top holdings after the filing:
  • NYSE: GPI: $249.64 million (47.7% of AUM)
  • NYSE: EQH: $155.86 million (29.8% of AUM)
  • NYSE: LAD: $52.94 million (10.1% of AUM)
  • NASDAQ: MNDY: $27.64 million (5.3% of AUM)
  • NASDAQ: RMNI: $19.40 million (3.7% of AUM)
• As of Friday, shares of monday.com were priced at $78.14, down roughly 75% over the past year and well underperforming the S&P 500, which is instead up about 25%.

Company overview

Metric	Value
Market Capitalization	$4 billion
Revenue (TTM)	$1.3 billion
Net Income (TTM)	$119.4 million

Company snapshot

• monday.com offers a cloud-based Work OS platform with modular building blocks for project management, CRM, marketing, software development, and other workflow solutions.
• The firm serves organizations in the United States, Europe, the Middle East, Africa, and internationally.
• It is headquartered in Tel Aviv-Yafo, Israel, with a global customer base spanning multiple industries.

monday.com is a technology company specializing in cloud-based software solutions that streamline work management and collaboration for businesses worldwide. The company leverages a modular platform strategy to address diverse operational needs across industries. With a global customer base and a focus on scalable, subscription-driven growth, monday.com aims to deliver flexible tools that enhance organizational productivity and efficiency.

What this transaction means for investors

Conifer appears to be looking past monday.com's brutal stock performance and focusing instead on a business that continues to grow quickly, generate cash, and move upmarket. And to be fair, the company's latest results, released just last week, do help explain the appeal. First-quarter revenue rose 24% year over year to $351.3 million, while GAAP operating income doubled to $19.8 million. Perhaps more importantly for a software company in today's market, monday.com generated more than $100 million in operating cash flow during the quarter and ended March with nearly $1 billion in cash and equivalents.

The company is also winning larger customers at an impressive pace. Customers generating more than $100,000 in annual recurring revenue jumped 39% year over year, while those generating more than $500,000 surged 74%. Plus, management recently launched its AI Work Platform with native AI agents and raised expectations for full-year revenue of as much as $1.47 billion.

In other words, Conifer is buying a profitable software company that is still growing well annually and positioning itself for the next wave of AI-driven workplace automation. The broader market has been brutal to many software stocks, but the underlying business here appears far healthier than the share price would indicate.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Monday.com and Rimini Street. The Motley Fool has a disclosure policy.