Intech Investment Management LLC Has $1.77 Million Stock Holdings in Freshworks Inc. (NASDAQ:FRSH)

Intech Investment Management LLC boosted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 44.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,409 shares of the company's stock after purchasing an additional 33,871 shares during the quarter. Intech Investment Management LLC's holdings in Freshworks were worth $1,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Freshworks by 49.8% during the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company's stock worth $60,503,000 after buying an additional 1,752,995 shares during the last quarter. State Street Corp increased its position in Freshworks by 7.1% during the third quarter. State Street Corp now owns 4,729,093 shares of the company's stock worth $54,290,000 after acquiring an additional 313,982 shares during the period. Geode Capital Management LLC raised its stake in Freshworks by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company's stock valued at $52,750,000 after purchasing an additional 66,342 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Freshworks by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company's stock valued at $44,934,000 after purchasing an additional 604,658 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Freshworks by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,609,957 shares of the company's stock worth $26,033,000 after purchasing an additional 53,185 shares during the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

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Freshworks Price Performance

Shares of FRSH traded up $0.50 during trading hours on Tuesday, hitting $16.45. The stock had a trading volume of 2,557,088 shares, compared to its average volume of 3,100,228. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of -51.41 and a beta of 0.92. The company's fifty day moving average is $17.03 and its two-hundred day moving average is $14.99. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77.

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

Insiders Place Their Bets

In related news, insider Mika Yamamoto sold 2,859 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total transaction of $45,286.56. Following the transaction, the insider now owns 400,249 shares in the company, valued at $6,339,944.16. This represents a 0.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the sale, the director now directly owns 24,187 shares in the company, valued at approximately $442,622.10. This represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,200 shares of company stock valued at $1,073,021. 19.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FRSH shares. Cantor Fitzgerald upped their price objective on shares of Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Morgan Stanley upped 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. Needham & Company LLC reissued a "buy" rating and set a $25.00 price objective on shares of Freshworks in a report on Monday, March 17th. Scotiabank boosted their price objective on Freshworks from $17.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company cut Freshworks from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $16.00 to $13.00 in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.