Aigen Investment Management LP Lowers Position in Freshworks Inc. (NASDAQ:FRSH)

Aigen Investment Management LP lowered its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 24.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,228 shares of the company's stock after selling 31,970 shares during the period. Aigen Investment Management LP's holdings in Freshworks were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in FRSH. Blue Trust Inc. raised its position in shares of Freshworks by 1,987.3% in the third quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock valued at $38,000 after buying an additional 2,822 shares during the last quarter. Covestor Ltd boosted its stake in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company's stock valued at $41,000 after purchasing an additional 1,704 shares during the period. CWM LLC boosted its stake 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 purchasing an additional 2,878 shares during the period. Advisors Asset Management Inc. boosted its stake in Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company's stock valued at $54,000 after acquiring an additional 757 shares during the last quarter. Finally, Quarry LP boosted its stake in Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company's stock valued at $55,000 after acquiring an additional 2,645 shares during the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.

Wall Street Analysts Forecast Growth

FRSH has been the subject of several research reports. JMP Securities lifted their price target on shares of Freshworks from $21.00 to $24.00 and gave the company a "market outperform" rating in a report on Thursday, November 7th. Scotiabank dropped their target price on shares of Freshworks from $18.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group dropped their target price on shares of Freshworks from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Cantor Fitzgerald dropped their target price on shares of Freshworks from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of Freshworks in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $18.69.

Freshworks Stock Up 0.8 %

Shares of FRSH traded up $0.13 during midday trading on Wednesday, reaching $16.63. 5,519,237 shares of the stock were exchanged, compared to its average volume of 2,821,876. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $24.98. The company has a market cap of $5.02 billion, a P/E ratio of -48.91 and a beta of 0.72. The stock's 50 day simple moving average is $11.94 and its 200 day simple moving average is $12.53.

Insider Buying and Selling at Freshworks

In related news, Director Zachary Nelson sold 8,433 shares of Freshworks 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 transaction, the director now directly owns 23,497 shares of the company's stock, valued at $286,428.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jennifer H. Taylor sold 4,690 shares of the company's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $11.06, for a total transaction of $51,871.40. Following the completion of the sale, the director now owns 36,689 shares in the company, valued at approximately $405,780.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Zachary Nelson sold 8,433 shares of the company's stock in a transaction on Monday, November 4th. The shares were 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 of the company's stock, valued at $286,428.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,463 shares of company stock worth $406,714 over the last 90 days. Insiders own 19.15% of the company's stock.

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.