JPMorgan Chase & Co. Has $77.81 Million Position in Freshworks Inc. (NASDAQ:FRSH)

JPMorgan Chase & Co. reduced its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,812,010 shares of the company's stock after selling 458,328 shares during the quarter. JPMorgan Chase & Co. owned about 1.59% of Freshworks worth $77,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Freshworks by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,772 shares of the company's stock valued at $17,872,000 after buying an additional 24,558 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Freshworks by 8.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,229 shares of the company's stock valued at $462,000 after acquiring an additional 3,182 shares during the period. Verition Fund Management LLC lifted its holdings in shares of Freshworks by 1,099.9% during the 3rd quarter. Verition Fund Management LLC now owns 211,171 shares of the company's stock valued at $2,424,000 after acquiring an additional 193,572 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Freshworks during the 3rd quarter worth $1,193,000. Finally, Centiva Capital LP boosted its position in Freshworks by 32.9% during the 3rd quarter. Centiva Capital LP now owns 55,916 shares of the company's stock worth $642,000 after purchasing an additional 13,832 shares during the period. Institutional investors and hedge funds own 75.58% of the company's stock.

Wall Street Analysts Forecast Growth

FRSH has been the topic of several recent research reports. Morgan Stanley boosted their price target on Freshworks from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Canaccord Genuity Group upped their target price on shares of Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company downgraded shares of Freshworks from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $16.00 to $13.00 in a research note on Tuesday, January 21st. Oppenheimer upped their price objective on shares of Freshworks from $22.00 to $24.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 target price on shares of Freshworks in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Freshworks has a consensus rating of "Moderate Buy" and an average price target of $21.14.

Insider Activity at Freshworks

In related news, Director Johanna Flower sold 21,400 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $18.00, for a total value of $385,200.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mika Yamamoto sold 3,574 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $14.20, for a total value of $50,750.80. Following the transaction, the insider now directly owns 611,604 shares in the company, valued at $8,684,776.80. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,262 shares of company stock valued at $955,812 over the last quarter. 19.15% of the stock is owned by company insiders.

Freshworks Stock Performance

Shares of Freshworks stock traded down $0.08 during trading on Tuesday, reaching $12.08. The company's stock had a trading volume of 4,465,330 shares, compared to its average volume of 3,286,937. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -37.75 and a beta of 0.98. The business's fifty day moving average price is $16.10 and its 200-day moving average price is $15.18.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (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%. Sell-side analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

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.