Headlands Technologies LLC Makes New Investment in Freshworks Inc. (NASDAQ:FRSH)

Headlands Technologies LLC bought a new stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 86,669 shares of the company's stock, valued at approximately $1,401,000.

Several other hedge funds and other institutional investors have also modified their holdings of FRSH. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 954 shares during the period. Versor Investments LP increased its stake in shares of Freshworks by 3.0% in the fourth quarter. Versor Investments LP now owns 34,400 shares of the company's stock worth $556,000 after acquiring an additional 1,000 shares during the last quarter. Arizona State Retirement System increased its position in Freshworks by 2.2% in the 4th quarter. Arizona State Retirement System now owns 51,704 shares of the company's stock worth $836,000 after purchasing an additional 1,103 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Freshworks by 10.2% during the 4th quarter. Xponance Inc. now owns 14,847 shares of the company's stock valued at $240,000 after buying an additional 1,369 shares during the last quarter. Finally, Avion Wealth acquired a new position in Freshworks in the fourth quarter worth approximately $26,000. Institutional investors and hedge funds own 75.58% of the company's stock.

Insider Transactions at Freshworks

In other Freshworks news, Director Johanna Flower sold 1,450 shares of Freshworks stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $18.01, for a total transaction of $26,114.50. Following the sale, the director now owns 41,491 shares in the company, valued at $747,252.91. The trade was a 3.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.29, for a total transaction of $52,291.11. Following the completion of the transaction, the insider now owns 397,390 shares of the company's stock, valued at approximately $7,268,263.10. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,262 shares of company stock valued at $955,812. 19.15% of the stock is owned by corporate insiders.

Freshworks Trading Down 6.2 %

NASDAQ:FRSH traded down $0.81 during trading hours on Friday, hitting $12.29. 6,114,732 shares of the company traded hands, compared to its average volume of 3,270,273. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -38.41 and a beta of 0.98. The firm has a 50-day moving average of $16.51 and a 200 day moving average of $15.17. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share 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 research analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of Freshworks in a research report on Monday, March 17th. Piper Sandler upped their price objective on shares of Freshworks from $20.00 to $24.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Oppenheimer raised their target price on Freshworks from $22.00 to $24.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Cantor Fitzgerald upped their price target on Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group lowered their price objective on Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Freshworks has a consensus rating of "Moderate Buy" and an average target price of $21.14.

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.