108,221 Shares in Freshworks Inc. (NASDAQ:FRSH) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP acquired a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 108,221 shares of the company's stock, valued at approximately $1,750,000.

A number of other hedge funds have also recently modified their holdings of the business. Bryce Point Capital LLC bought a new stake in Freshworks in the 4th quarter worth approximately $571,000. Trexquant Investment LP lifted its position in Freshworks by 364.6% during the fourth quarter. Trexquant Investment LP now owns 915,887 shares of the company's stock valued at $14,810,000 after purchasing an additional 718,763 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Freshworks in the 4th quarter worth $1,401,000. Geode Capital Management LLC increased its holdings in shares of Freshworks by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,673,600 shares of the company's stock worth $75,588,000 after buying an additional 79,388 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Freshworks by 1,385.8% in 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. Institutional investors own 75.58% of the company's stock.

Insiders Place Their Bets

In related news, Director Zachary Nelson sold 8,442 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.30, for a total transaction of $154,488.60. Following the completion of the transaction, the director now owns 24,187 shares in the company, valued at approximately $442,622.10. The trade was a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Johanna Flower sold 21,400 shares of Freshworks stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $18.00, for a total value of $385,200.00. Following the sale, the director now directly owns 41,491 shares of the company's stock, valued at $746,838. This trade represents a 34.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,577 shares of company stock valued at $883,242 in the last three months. 19.15% of the stock is currently owned by insiders.

Freshworks Stock Up 1.9 %

Shares of FRSH stock traded up $0.24 during mid-day trading on Monday, hitting $12.77. 589,499 shares of the stock were exchanged, compared to its average volume of 3,303,179. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The firm has a fifty day moving average of $15.65 and a 200 day moving average of $15.23. The company has a market cap of $3.85 billion, a PE ratio of -39.91 and a beta of 0.98.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data 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 net margin of 13.24% and a negative return on equity of 6.63%. Equities analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

FRSH has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their target price on Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Scotiabank upped their target price on shares of Freshworks from $17.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their price target on Freshworks from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Robert W. Baird set a $18.00 price target on shares of Freshworks in a report on Wednesday, February 12th. Finally, Piper Sandler increased their target price on Freshworks from $20.00 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.79.

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.