Bryce Point Capital LLC Takes Position in Freshworks Inc. (NASDAQ:FRSH)

Bryce Point Capital LLC bought a new stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,307 shares of the company's stock, valued at approximately $571,000.

A number of other institutional investors have also recently bought and sold shares of FRSH. Trexquant Investment LP lifted its position in Freshworks by 364.6% in the 4th quarter. Trexquant Investment LP now owns 915,887 shares of the company's stock worth $14,810,000 after buying an additional 718,763 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Freshworks in the 4th quarter valued at $1,401,000. Geode Capital Management LLC boosted its stake in shares of Freshworks by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,673,600 shares of the company's stock worth $75,588,000 after acquiring an additional 79,388 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock valued at $64,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Freshworks in the fourth quarter valued at approximately $61,530,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Freshworks Price Performance

Shares of Freshworks stock traded up $0.36 during trading on Tuesday, hitting $12.52. 1,166,406 shares of the company were exchanged, compared to its average volume of 3,269,691. The firm has a market capitalization of $3.77 billion, a P/E ratio of -39.12 and a beta of 0.98. The firm's fifty day moving average price is $16.40 and its 200 day moving average price is $15.20. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results 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%. As a group, equities research analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the transaction, the director now owns 24,187 shares of the company's stock, valued at $442,622.10. The trade was a 25.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mika Yamamoto sold 2,859 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.29, for a total value of $52,291.11. Following the sale, the insider now owns 397,390 shares in the company, valued at approximately $7,268,263.10. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,262 shares of company stock worth $955,812. 19.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FRSH shares. Morgan Stanley increased their price objective on Freshworks from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. JMP Securities set a $27.00 target price on shares of Freshworks in a research note on Wednesday, February 12th. Piper Sandler upped their price target on Freshworks from $20.00 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Wells Fargo & Company downgraded shares of Freshworks from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. Finally, Canaccord Genuity Group increased their target price on Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.14.

Freshworks Company 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.