Charles Schwab Investment Management Inc. Raises Stock Holdings in Freshworks Inc. (NASDAQ:FRSH)

Charles Schwab Investment Management Inc. boosted its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,609,957 shares of the company's stock after buying an additional 53,185 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.53% of Freshworks worth $26,033,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FRSH. Avion Wealth bought a new position in shares of Freshworks during the fourth quarter valued at about $26,000. Point72 Hong Kong Ltd bought a new position in shares of Freshworks during the 3rd quarter worth approximately $57,000. Blue Trust Inc. boosted its stake in shares of Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after buying an additional 954 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of 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 acquiring an additional 2,223 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Freshworks by 59.1% during the fourth quarter. KBC Group NV now owns 7,604 shares of the company's stock worth $123,000 after acquiring an additional 2,824 shares during the period. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. StockNews.com raised Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Freshworks in a research report on Monday. Morgan Stanley boosted their target price on shares of Freshworks from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Canaccord Genuity Group raised their price target on shares of Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, Oppenheimer upped their price objective on Freshworks from $22.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Freshworks has a consensus rating of "Moderate Buy" and an average target price of $21.14.

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Insider Activity at Freshworks

In related news, Director Johanna Flower sold 21,400 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $18.00, for a total transaction of $385,200.00. Following the transaction, the director now owns 41,491 shares of the company's stock, valued at approximately $746,838. This trade represents a 34.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $15.85, for a total transaction of $133,663.05. Following the completion of the sale, the director now directly owns 24,187 shares of the company's stock, valued at $383,363.95. This represents a 25.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,200 shares of company stock valued at $1,073,021. Corporate insiders own 19.15% of the company's stock.

Freshworks Stock Performance

Freshworks stock traded up $0.25 during mid-day trading on Friday, hitting $15.54. 2,508,311 shares of the company traded hands, compared to its average volume of 3,775,192. The stock has a fifty day moving average price of $17.02 and a 200-day moving average price of $14.88. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -48.56 and a beta of 0.92. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) 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%. Sell-side analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

About Freshworks

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.