Edgestream Partners L.P. Purchases Shares of 103,934 Freshworks Inc. (NASDAQ:FRSH)

Edgestream Partners L.P. bought a new stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 103,934 shares of the company's stock, valued at approximately $1,193,000.

Several other institutional investors have also modified their holdings of FRSH. California State Teachers Retirement System increased its stake in shares of Freshworks by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 161,706 shares of the company's stock worth $2,945,000 after purchasing an additional 831 shares in the last quarter. CWM LLC lifted its position in shares of Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company's stock valued at $43,000 after acquiring an additional 2,878 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Freshworks by 22.4% during the second quarter. Diversified Trust Co now owns 57,026 shares of the company's stock valued at $724,000 after acquiring an additional 10,450 shares during the last quarter. Stanley Laman Group Ltd. acquired a new position in Freshworks in the 2nd quarter valued at about $9,133,000. Finally, Neo Ivy Capital Management purchased a new position in Freshworks in the 2nd quarter valued at about $2,910,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

Insider Buying and Selling at Freshworks

In related news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $12.19, for a total value of $102,798.27. Following the completion of the transaction, the director now directly owns 23,497 shares of the company's stock, valued at $286,428.43. This represents a 26.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,690 shares of the business's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the transaction, the director now owns 36,689 shares of the company's stock, valued at $405,780.34. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,250 shares of company stock worth $300,201. 19.15% of the stock is owned by insiders.

Freshworks Trading Down 1.6 %

Shares of NASDAQ FRSH traded down $0.26 during mid-day trading on Thursday, hitting $16.09. The company had a trading volume of 2,298,101 shares, compared to its average volume of 2,939,403. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $24.98. The firm's 50 day simple moving average is $13.34 and its two-hundred day simple moving average is $12.65.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Robert W. Baird lowered their price target on shares of Freshworks from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Freshworks in a report on Thursday, November 7th. JMP Securities increased their price target on Freshworks from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on Freshworks from $17.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased their target price on Freshworks from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.69.

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.