Tidal Investments LLC Makes New Investment in Freshworks Inc. (NASDAQ:FRSH)

Tidal Investments LLC bought a new position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 46,535 shares of the company's stock, valued at approximately $534,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quantbot Technologies LP grew its holdings in Freshworks by 80.1% during the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company's stock worth $4,895,000 after acquiring an additional 189,616 shares during the period. Sei Investments Co. raised its stake in shares of Freshworks by 191.9% during the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company's stock worth $1,216,000 after buying an additional 63,006 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Freshworks during the 3rd quarter valued at approximately $1,193,000. Intech Investment Management LLC acquired a new stake in Freshworks in the 3rd quarter valued at $867,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 worth $2,699,000 after acquiring an additional 209,194 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.

Insiders Place Their Bets

In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total transaction of $93,199.68. Following the sale, the director now owns 23,497 shares of the company's stock, valued at approximately $259,406.88. This trade represents a 26.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Rathnagirish Mathrubootham sold 830,000 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $15.33, for a total transaction of $12,723,900.00. Following the completion of the transaction, the chairman now owns 551,137 shares of the company's stock, valued at approximately $8,448,930.21. The trade was a 60.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,699,318 shares of company stock worth $26,614,569 in the last 90 days. Corporate insiders own 19.15% of the company's stock.

Analyst Upgrades and Downgrades

FRSH has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on Freshworks from $13.00 to $18.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their target price on shares of Freshworks from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 7th. Robert W. Baird cut 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. JMP Securities increased their price objective on Freshworks from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of Freshworks in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.69.

Freshworks Price Performance

Shares of Freshworks stock traded up $0.26 on Monday, reaching $15.59. 2,697,299 shares of the company were exchanged, compared to its average volume of 2,996,692. The stock's 50 day moving average price is $14.67 and its 200-day moving average price is $12.93. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.25. The company has a market cap of $4.72 billion, a P/E ratio of -45.85 and a beta of 0.90.

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.