Capital Fund Management S.A. Reduces Holdings in Freshworks Inc. (NASDAQ:FRSH)

Capital Fund Management S.A. trimmed its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 9.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 259,589 shares of the company's stock after selling 26,979 shares during the period. Capital Fund Management S.A. owned approximately 0.09% of Freshworks worth $4,198,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Avion Wealth bought a new stake in Freshworks during the 4th quarter valued at $26,000. Blue Trust Inc. lifted its position in Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after acquiring an additional 954 shares in the last quarter. National Bank of Canada FI boosted its stake in Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock valued at $64,000 after purchasing an additional 3,700 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock worth $71,000 after purchasing an additional 2,223 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Freshworks by 59.1% in the fourth quarter. KBC Group NV now owns 7,604 shares of the company's stock worth $123,000 after purchasing an additional 2,824 shares during the last quarter. Institutional investors own 75.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Oppenheimer dropped their price target on Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Canaccord Genuity Group raised their price objective on shares of Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Robert W. Baird set a $18.00 target price on shares of Freshworks in a research note on Wednesday, February 12th. Scotiabank lifted their price target on shares of Freshworks from $17.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group decreased their target price on Freshworks from $22.00 to $20.00 and set a "hold" rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Freshworks has a consensus rating of "Moderate Buy" and a consensus target price of $20.43.

Freshworks Stock Performance

Freshworks stock traded up $0.06 during midday trading on Friday, reaching $12.60. 1,919,431 shares of the stock were exchanged, compared to its average volume of 3,319,710. The company's fifty day moving average is $15.20 and its 200-day moving average is $15.21. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The firm has a market cap of $3.80 billion, a PE ratio of -39.38 and a beta of 0.98.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. On average, sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshworks

In related news, insider Mika Yamamoto sold 2,859 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.29, for a total value of $52,291.11. Following the completion of the sale, the insider now owns 397,390 shares in the company, valued at $7,268,263.10. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Johanna Flower sold 21,400 shares of the stock in a transaction that occurred 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 in the company, valued at $746,838. The trade was a 34.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,577 shares of company stock worth $883,242 over the last three months. 19.15% of the stock is owned by insiders.

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.