Barclays PLC raised its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 33.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 337,621 shares of the company's stock after purchasing an additional 84,568 shares during the period. Barclays PLC owned 0.11% of Freshworks worth $3,875,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of FRSH. Quantbot Technologies LP boosted its stake in Freshworks by 80.1% in the 3rd 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 during the period. Sei Investments Co. boosted its holdings in Freshworks by 191.9% in the 2nd quarter. Sei Investments Co. now owns 95,846 shares of the company's stock valued at $1,216,000 after purchasing an additional 63,006 shares during the period. Edgestream Partners L.P. acquired a new position in Freshworks in the 3rd quarter valued at $1,193,000. Intech Investment Management LLC acquired a new stake in Freshworks during the third quarter worth about $867,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Freshworks by 806.1% in the third 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 in the last quarter. 75.58% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have commented on FRSH shares. JPMorgan Chase & Co. increased their target price on Freshworks from $17.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on Freshworks from $11.00 to $14.00 and gave the company an "equal weight" rating in a research note on Thursday, November 7th. Piper Sandler raised their target price on Freshworks from $13.00 to $18.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Freshworks in a report on Tuesday, December 17th. Finally, Robert W. Baird lowered their price objective on shares of Freshworks from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.69.
Check Out Our Latest Analysis on Freshworks
Freshworks Trading Up 1.7 %
NASDAQ FRSH traded up $0.26 during trading hours on Monday, hitting $15.59. The company's stock had a trading volume of 2,697,299 shares, compared to its average volume of 2,996,692. The company has a market capitalization of $4.72 billion, a PE ratio of -45.85 and a beta of 0.90. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $24.25. The company's 50-day simple moving average is $14.59 and its two-hundred day simple moving average is $12.91.
Insider Activity at Freshworks
In other Freshworks news, Director Zachary Nelson sold 8,442 shares of Freshworks 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 transaction, the director now owns 23,497 shares of the company's stock, valued at $259,406.88. This trade represents a 26.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry L. Padgett sold 2,345 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $17.30, for a total value of $40,568.50. Following the completion of the transaction, the director now owns 26,957 shares of the company's stock, valued at $466,356.10. This trade represents a 8.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,699,318 shares of company stock valued at $26,614,569 over the last 90 days. Insiders own 19.15% of the company's stock.
About Freshworks
(
Free Report)
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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