By otakuyassine3@gmail.com 
Vanguard Group Inc. increased its position in shares of Freshworks Inc. (NASDAQ:FRSH – Free Report) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,063,879 shares of the company’s stock after purchasing an additional 1,357,526 shares during the period. Vanguard Group Inc. owned about 0.08% of Freshworks worth $405,283,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Avion Wealth bought a new stake in Freshworks in the 4th quarter valued at $26,000. Point72 Hong Kong Ltd acquired a new stake in shares of Freshworks during the 3rd quarter valued at about $57,000. Blue Trust Inc. increased its stake in Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after acquiring an additional 954 shares during the period. Nisa Investment Advisors LLC raised its position in Freshworks by 102.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after purchasing an additional 2,223 shares in the last quarter. Finally, KBC Group NV lifted its stake in Freshworks by 59.1% during the fourth quarter. KBC Group NV now owns 7,604 shares of the company’s stock worth $123,000 after purchasing an additional 2,824 shares during the period. 75.58% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Freshworks
In related news, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the transaction, the director now directly owns 37,286 shares in the company, valued at $577,560.14. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $16.72, for a total transaction of $140,999.76. Following the sale, the director now directly owns 24,187 shares of the company’s stock, valued at $404,406.64. This represents a 25.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,688 shares of company stock worth $905,061 over the last 90 days. Insiders own 19.15% of the company’s stock.
Freshworks Price Performance
FRSH opened at $14.59 on Thursday. The stock has a market capitalization of $4.40 billion, a P/E ratio of -45.59 and a beta of 0.92. The company’s 50 day simple moving average is $16.73 and its 200-day simple moving average is $15.15. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77.
Freshworks (NASDAQ:FRSH – Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. As a group, analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.
Analysts Set New Price Targets
Several research firms have recently weighed in on FRSH. Cantor Fitzgerald upped their price objective on Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. JMP Securities set a $27.00 price objective on Freshworks in a research note on Wednesday, February 12th. Piper Sandler boosted their target price on shares of Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their target price on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Scotiabank lifted their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Freshworks presently has an average rating of “Moderate Buy” and a consensus target price of $21.14.
Read Our Latest Stock Analysis on FRSH
Freshworks Company Profile
Freshworks Inc, a software development company, provides software-as-a-service products worldwide. It offers Freshworks Customer Service Suite, which provides automated, personalized self-service on various channels, including web, chat, mobile messaging, email, and social; Freshdesk, a ticketing-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat that provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.
See Also
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