Aigen Investment Management LP lessened its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 87.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,982 shares of the company's stock after selling 86,246 shares during the quarter. Aigen Investment Management LP's holdings in Freshworks were worth $194,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Avion Wealth purchased a new stake in Freshworks during the fourth quarter worth about $26,000. Covestor Ltd increased its stake in Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company's stock worth $41,000 after buying an additional 1,704 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Freshworks during the 3rd quarter worth approximately $57,000. Blue Trust Inc. lifted its holdings in Freshworks by 32.2% during 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 in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after buying an additional 2,223 shares during the period. Institutional investors and hedge funds own 75.58% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Oppenheimer upped their price objective on Freshworks from $22.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. UBS Group set a $22.00 price objective on Freshworks in a research note on Thursday, February 6th. Morgan Stanley upped their target price on shares of Freshworks from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, January 13th. Piper Sandler lifted their price target on shares of Freshworks from $20.00 to $24.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, StockNews.com raised shares of Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.14.
Read Our Latest Research Report on FRSH
Insider Buying and Selling
In related news, Director Barry L. Padgett sold 2,345 shares of Freshworks stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $17.30, for a total value of $40,568.50. Following the transaction, the director now directly owns 26,957 shares in the company, valued at $466,356.10. This trade represents a 8.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mika Yamamoto sold 5,718 shares of the firm's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $16.95, for a total transaction of $96,920.10. Following the completion of the sale, the insider now owns 403,108 shares of the company's stock, valued at $6,832,680.60. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,735,263 shares of company stock worth $27,361,209 in the last 90 days. Company insiders own 19.15% of the company's stock.
Freshworks Price Performance
Shares of FRSH traded down $0.47 during midday trading on Thursday, reaching $14.35. 2,478,822 shares of the stock were exchanged, compared to its average volume of 3,979,703. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of -44.84 and a beta of 0.92. The business's 50-day moving average price is $17.15 and its 200 day moving average price is $14.77.
Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) 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%. As a group, equities research analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.
Freshworks Profile
(
Free Report)
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.
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