33,269 Shares in Freshworks Inc. (NASDAQ:FRSH) Purchased by Sciencast Management LP

Sciencast Management LP purchased a new stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 33,269 shares of the company's stock, valued at approximately $538,000.

Several other large investors also recently made changes to their positions in the stock. Smith Group Asset Management LLC acquired a new position in Freshworks in the 4th quarter worth $589,000. Quantbot Technologies LP lifted its holdings in shares of Freshworks by 80.1% in the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company's stock valued at $4,895,000 after purchasing an additional 189,616 shares in the last quarter. Barclays PLC boosted its position in shares of Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company's stock worth $3,875,000 after buying an additional 84,568 shares during the period. Edgestream Partners L.P. bought a new position in shares of Freshworks during the third quarter worth about $1,193,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Freshworks by 806.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company's stock valued at $2,699,000 after buying an additional 209,194 shares during the last quarter. Institutional investors own 75.58% of the company's stock.

Freshworks Price Performance

NASDAQ FRSH traded down $0.77 during trading on Thursday, reaching $15.16. 3,638,687 shares of the company's stock were exchanged, compared to its average volume of 3,108,989. The business has a 50 day moving average price of $17.02 and a 200-day moving average price of $15.03. The stock has a market capitalization of $4.57 billion, a P/E ratio of -47.38 and a beta of 0.92. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77.

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Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. On average, analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.

Insider Buying and Selling at Freshworks

In related news, insider Mika Yamamoto sold 2,859 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total value of $45,286.56. Following the transaction, the insider now owns 400,249 shares in the company, valued at approximately $6,339,944.16. This represents a 0.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $15.85, for a total transaction of $133,663.05. Following the sale, the director now owns 24,187 shares of the company's stock, valued at $383,363.95. This trade represents a 25.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,200 shares of company stock worth $1,073,021 over the last ninety days. Insiders own 19.15% of the company's stock.

Analyst Ratings Changes

FRSH has been the subject of a number of recent research reports. Barclays upped their price target on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald increased their target price on shares of Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Robert W. Baird set a $18.00 price target on shares of Freshworks in a research note on Wednesday, February 12th. Needham & Company LLC restated a "buy" rating and set a $25.00 price objective on shares of Freshworks in a research note on Monday, March 17th. Finally, Canaccord Genuity Group lifted their target price on Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $21.14.

Freshworks 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.