Barclays PLC Grows Position in Freshworks Inc. (NASDAQ:FRSH)

Barclays PLC lifted its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 372,861 shares of the company's stock after purchasing an additional 35,240 shares during the quarter. Barclays PLC owned about 0.12% of Freshworks worth $6,028,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Avion Wealth purchased a new position in Freshworks in the fourth quarter valued at about $26,000. Blue Trust Inc. increased its stake in Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after purchasing an additional 954 shares in the last quarter. National Bank of Canada FI boosted its position in Freshworks by 1,385.8% during the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock worth $64,000 after purchasing an additional 3,700 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Freshworks by 102.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after purchasing an additional 2,223 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Freshworks by 30.2% in the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock valued at $76,000 after buying an additional 1,087 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Stock Up 3.2 %

FRSH stock opened at $14.07 on Friday. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The company has a market cap of $4.24 billion, a price-to-earnings ratio of -43.97 and a beta of 0.98. The business has a fifty day simple moving average of $14.65 and a 200-day simple moving average of $15.29.

Freshworks (NASDAQ:FRSH - Get Free Report) last released 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 net margin of 13.24% and a negative return on equity of 6.63%. As a group, analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FRSH. Morgan Stanley lowered their price objective on shares of Freshworks from $21.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Scotiabank cut their price objective on Freshworks from $19.00 to $14.00 and set a "sector perform" rating for the company in a research report on Thursday. Barclays increased their target price on Freshworks from $14.00 to $20.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. StockNews.com raised Freshworks from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Finally, Canaccord Genuity Group lifted their price objective on Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.64.

Insider Transactions at Freshworks

In other Freshworks news, Director Johanna Flower sold 1,450 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $18.01, for a total value of $26,114.50. Following the completion of the sale, the director now owns 41,491 shares of the company's stock, valued at $747,252.91. This trade represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.30, for a total transaction of $154,488.60. Following the sale, the director now directly owns 24,187 shares of the company's stock, valued at approximately $442,622.10. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,177 shares of company stock valued at $498,042 over the last 90 days. Corporate 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.

Want to see what other hedge funds are holding FRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshworks Inc. (NASDAQ:FRSH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.