Freshworks Inc. (NASDAQ:FRSH) Shares Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd boosted its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 264.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,450 shares of the company's stock after purchasing an additional 113,497 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.05% of Freshworks worth $1,796,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in FRSH. Advisors Asset Management Inc. grew its stake in shares of Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company's stock worth $54,000 after purchasing an additional 757 shares during the period. California State Teachers Retirement System boosted its holdings in Freshworks by 0.5% during the first quarter. California State Teachers Retirement System now owns 161,706 shares of the company's stock worth $2,945,000 after buying an additional 831 shares in the last quarter. Amalgamated Bank grew its position in Freshworks by 29.1% during the second quarter. Amalgamated Bank now owns 7,054 shares of the company's stock worth $90,000 after buying an additional 1,588 shares during the period. Covestor Ltd increased its holdings in Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company's stock valued at $41,000 after buying an additional 1,704 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company's stock valued at $55,000 after acquiring an additional 2,645 shares during the period. Hedge funds and other institutional investors own 75.58% of the company's stock.

Analyst Upgrades and Downgrades

FRSH has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Freshworks from $17.00 to $20.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Piper Sandler raised their price target on Freshworks from $13.00 to $18.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Robert W. Baird decreased their price objective on shares of Freshworks from $16.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. Barclays dropped their target price on shares of Freshworks from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price target on shares of Freshworks from $11.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.69.

Insider Buying and Selling

In related news, Director Zachary Nelson sold 8,433 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $12.19, for a total value of $102,798.27. Following the transaction, the director now owns 23,497 shares in the company, valued at approximately $286,428.43. This trade represents a 26.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jennifer H. Taylor sold 4,690 shares of the company's stock in a transaction 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. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,463 shares of company stock valued at $406,714. Insiders own 19.15% of the company's stock.

Freshworks Stock Performance

Freshworks stock traded down $0.13 during trading on Tuesday, hitting $16.32. The company's stock had a trading volume of 2,964,037 shares, compared to its average volume of 2,914,243. The stock's fifty day moving average is $12.67 and its 200 day moving average is $12.53. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $24.98. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of -47.91 and a beta of 0.72.

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.