Connor Clark & Lunn Investment Management Ltd. Acquires 209,194 Shares of Freshworks Inc. (NASDAQ:FRSH)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 806.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,146 shares of the company's stock after acquiring an additional 209,194 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Freshworks worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FRSH. Vanguard Group Inc. increased its stake in shares of Freshworks by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 21,171,044 shares of the company's stock worth $385,525,000 after purchasing an additional 1,354,530 shares during the last quarter. Sei Investments Co. increased its position in Freshworks by 191.9% during the second quarter. Sei Investments Co. now owns 95,846 shares of the company's stock worth $1,216,000 after buying an additional 63,006 shares during the last quarter. M&G PLC acquired a new position in Freshworks during the third quarter worth $9,094,000. Marshall Wace LLP bought a new position in Freshworks during the second quarter valued at about $1,740,000. Finally, Versor Investments LP acquired a new stake in shares of Freshworks in the third quarter worth about $383,000. Institutional investors and hedge funds own 75.58% of the company's stock.

Insider Activity at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $11.06, for a total transaction of $51,871.40. Following the sale, the director now directly owns 36,689 shares of the company's stock, valued at approximately $405,780.34. The trade was a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Zachary Nelson sold 8,442 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $93,199.68. Following the completion of the transaction, the director now directly owns 23,497 shares of the company's stock, valued at approximately $259,406.88. The trade was a 26.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,463 shares of company stock worth $406,714. 19.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cantor Fitzgerald cut their price objective on Freshworks from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 31st. Jefferies Financial Group dropped their price target on shares of Freshworks from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Robert W. Baird decreased their price objective on shares of Freshworks from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of Freshworks from $17.00 to $20.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Finally, Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Freshworks in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.69.

Freshworks Stock Down 0.5 %

Shares of FRSH stock traded down $0.09 during mid-day trading on Monday, reaching $16.45. The stock had a trading volume of 4,792,253 shares, compared to its average volume of 2,913,203. Freshworks Inc. has a one year low of $10.81 and a one year high of $24.98. The firm has a market cap of $4.98 billion, a PE ratio of -48.38 and a beta of 0.72. The firm's 50 day simple moving average is $12.56 and its 200 day simple moving average is $12.52.

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.