Freshworks Inc. (NASDAQ:FRSH) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC boosted its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 29.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,462,541 shares of the company's stock after purchasing an additional 331,298 shares during the period. Ieq Capital LLC owned approximately 0.48% of Freshworks worth $23,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in FRSH. Avion Wealth purchased a new stake in shares of Freshworks during the fourth quarter valued at $26,000. Blue Trust Inc. lifted its holdings in Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock valued at $38,000 after buying an additional 2,822 shares in the last quarter. Covestor Ltd boosted its position in Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company's stock valued at $41,000 after buying an additional 1,704 shares during the period. Nisa Investment Advisors LLC grew its stake in Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock worth $71,000 after acquiring an additional 2,223 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Freshworks in the 3rd quarter worth about $57,000. Institutional investors own 75.58% of the company's stock.

Insider Activity

In other news, Director Barry L. Padgett sold 2,345 shares of Freshworks stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $17.30, for a total transaction of $40,568.50. Following the sale, the director now owns 26,957 shares of the company's stock, valued at approximately $466,356.10. The trade was a 8.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Zachary Nelson sold 8,442 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total value of $154,488.60. Following the completion of the transaction, the director now owns 24,187 shares of the company's stock, valued at $442,622.10. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,727,211 shares of company stock worth $27,224,746 over the last quarter. 19.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FRSH shares. Oppenheimer boosted their price target on Freshworks from $22.00 to $24.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Morgan Stanley upped their target price on Freshworks from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. JMP Securities lifted their price objective on Freshworks from $21.00 to $24.00 and gave the company a "market outperform" rating in a report on Thursday, November 7th. Barclays increased their target price on shares of Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company downgraded Freshworks from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $16.00 to $13.00 in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Freshworks presently has a consensus rating of "Moderate Buy" and an average price target of $20.62.

Freshworks Price Performance

NASDAQ FRSH traded down $0.92 on Friday, hitting $17.21. The company had a trading volume of 4,239,306 shares, compared to its average volume of 4,288,317. The company's fifty day moving average price is $17.07 and its 200-day moving average price is $14.27. The company has a market capitalization of $5.21 billion, a PE ratio of -53.86 and a beta of 0.91. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $20.91.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) 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 EPS for the current year.

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.