M&G PLC bought a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 826,753 shares of the company's stock, valued at approximately $9,094,000. M&G PLC owned about 0.27% of Freshworks as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of FRSH. Blue Trust Inc. lifted its holdings in shares of Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock valued at $38,000 after purchasing an additional 2,822 shares during the last quarter. CWM LLC raised its stake in 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 buying an additional 2,878 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company's stock valued at $54,000 after buying an additional 757 shares during the last quarter. Quarry LP boosted its holdings in Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company's stock worth $55,000 after acquiring an additional 2,645 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Freshworks during the second quarter worth about $58,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Freshworks
In related news, Director Zachary Nelson sold 8,433 shares of Freshworks stock in a transaction dated 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 owns 23,497 shares in the company, valued at $286,428.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the sale, the director now owns 35,853 shares of the company's stock, valued at approximately $400,478.01. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $12.19, for a total transaction of $102,798.27. Following the completion of the sale, the director now directly owns 23,497 shares of the company's stock, valued at approximately $286,428.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,153 shares of company stock valued at $459,383 in the last ninety days. 19.15% of the stock is currently owned by corporate insiders.
Freshworks Price Performance
FRSH stock traded down $0.38 during trading on Friday, hitting $16.44. 9,375,092 shares of the company traded hands, compared to its average volume of 2,787,160. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $24.98. The company has a market cap of $4.97 billion, a PE ratio of -48.35 and a beta of 0.72. The stock's 50-day simple moving average is $11.64 and its 200 day simple moving average is $12.61.
Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The firm had revenue of $186.58 million during the quarter, compared to analyst estimates of $181.50 million. Research analysts expect that Freshworks Inc. will post -0.38 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Freshworks from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. Cantor Fitzgerald lowered their price objective on shares of Freshworks from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on shares of Freshworks from $11.00 to $14.00 and gave the company an "equal weight" rating in a report on Thursday. Barclays reduced their target price on Freshworks from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on Freshworks from $17.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Freshworks currently has an average rating of "Moderate Buy" and a consensus target price of $18.69.
Get Our Latest Stock Report on Freshworks
Freshworks Profile
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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.
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