989,496 Shares in Freshworks Inc. (NASDAQ:FRSH) Purchased by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 989,496 shares of the company's stock, valued at approximately $16,000,000. Artisan Partners Limited Partnership owned approximately 0.33% of Freshworks as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Pier Capital LLC acquired a new stake in shares of Freshworks during the 4th quarter valued at about $9,523,000. EntryPoint Capital LLC bought a new stake in Freshworks in the fourth quarter worth $241,000. Vanguard Group Inc. increased its position in Freshworks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company's stock worth $405,283,000 after buying an additional 1,357,526 shares during the last quarter. LPL Financial LLC bought a new position in Freshworks during the fourth quarter valued at about $703,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Freshworks in the fourth quarter worth about $584,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FRSH. Scotiabank upped their price objective on shares of Freshworks from $17.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Barclays lifted their price objective on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Oppenheimer increased their target price on Freshworks from $22.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Canaccord Genuity Group lifted their price target on Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Needham & Company LLC restated a "buy" rating and issued a $25.00 price objective on shares of Freshworks in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Freshworks currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.14.

Freshworks Stock Up 1.6 %

Shares of Freshworks stock traded up $0.23 during trading on Wednesday, reaching $14.56. The company's stock had a trading volume of 489,440 shares, compared to its average volume of 3,643,946. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The firm has a market cap of $4.39 billion, a PE ratio of -45.54 and a beta of 0.92. The business's 50-day moving average price is $16.79 and its 200-day moving average price is $15.15.

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

Insider Activity

In other news, insider Mika Yamamoto sold 2,859 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $16.74, for a total transaction of $47,859.66. Following the completion of the sale, the insider now owns 615,893 shares of the company's stock, valued at $10,310,048.82. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the completion of the sale, the director now directly owns 37,286 shares of the company's stock, valued at $577,560.14. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,980 shares of company stock valued at $1,084,011. 19.15% of the stock is currently owned by corporate insiders.

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.