Freshworks Inc. (NASDAQ:FRSH) Stock Holdings Lifted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 273.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,900 shares of the company's stock after buying an additional 258,300 shares during the quarter. Canada Pension Plan Investment Board owned about 0.12% of Freshworks worth $5,706,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FRSH. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Freshworks during the fourth quarter valued at $61,530,000. Norges Bank purchased a new position in Freshworks in the 4th quarter valued at about $57,527,000. JPMorgan Chase & Co. boosted its stake in shares of Freshworks by 49.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company's stock worth $60,503,000 after purchasing an additional 1,752,995 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Freshworks in the fourth quarter valued at approximately $20,666,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

Insider Buying and Selling at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 2,859 shares of the firm'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 transaction of $52,291.11. Following the completion of the sale, the insider now owns 397,390 shares in the company, valued at $7,268,263.10. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Johanna Flower sold 1,450 shares of Freshworks stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total value of $26,114.50. Following the sale, the director now owns 41,491 shares in the company, valued at $747,252.91. This represents a 3.38 % 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. 19.15% of the stock is owned by corporate insiders.

Freshworks Stock Performance

Freshworks stock traded up $0.43 during trading on Friday, reaching $14.07. 3,120,803 shares of the company's stock were exchanged, compared to its average volume of 3,337,230. 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 $4.24 billion, a price-to-earnings ratio of -43.97 and a beta of 0.98. The company's 50-day moving average is $14.65 and its two-hundred day moving average is $15.29.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued 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%. Analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on FRSH. Oppenheimer lowered their target price on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Jefferies Financial Group dropped their target price on Freshworks from $22.00 to $20.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Robert W. Baird set a $18.00 price target on Freshworks in a research note on Wednesday, February 12th. UBS Group set a $22.00 price objective on shares of Freshworks in a research note on Thursday, February 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of Freshworks in a research report on Monday, March 17th. One equities 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.64.

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.