Jump Financial LLC Cuts Position in Freshworks Inc. (NASDAQ:FRSH)

Jump Financial LLC trimmed its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 77.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,600 shares of the company's stock after selling 294,193 shares during the quarter. Jump Financial LLC's holdings in Freshworks were worth $1,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new position in shares of Freshworks during the 4th quarter valued at $61,530,000. Norges Bank bought a new stake in Freshworks during the 4th quarter valued at approximately $57,527,000. JPMorgan Chase & Co. lifted its holdings in Freshworks by 49.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company's stock worth $60,503,000 after purchasing an additional 1,752,995 shares in the last quarter. Vanguard Group Inc. boosted its stake in Freshworks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company's stock worth $405,283,000 after purchasing an additional 1,357,526 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Freshworks during the 4th quarter valued at approximately $20,666,000. Institutional investors own 75.58% of the company's stock.

Analyst Ratings Changes

FRSH has been the subject of a number of research reports. Morgan Stanley lowered their target price on Freshworks from $21.00 to $14.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. JMP Securities set a $27.00 price objective on shares of Freshworks in a research note on Wednesday, February 12th. Oppenheimer decreased their target price on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald lifted their price target on Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Finally, Scotiabank decreased their price objective on Freshworks from $19.00 to $14.00 and set a "sector perform" rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Freshworks currently has a consensus rating of "Moderate Buy" and an average price target of $19.64.

Freshworks Stock Up 6.6 %

Shares of FRSH stock traded up $0.84 on Thursday, hitting $13.62. The stock had a trading volume of 2,945,920 shares, compared to its average volume of 3,327,011. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The business has a 50 day moving average price of $14.79 and a 200 day moving average price of $15.25. The company has a market cap of $4.11 billion, a PE ratio of -42.56 and a beta of 0.98.

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

Insider Activity

In other Freshworks news, 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 value of $154,488.60. Following the completion of the sale, the director now directly owns 24,187 shares in the company, valued at approximately $442,622.10. This trade represents a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction that occurred 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 directly owns 397,390 shares of the company's stock, valued at $7,268,263.10. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,177 shares of company stock worth $498,042. 19.15% of the stock is currently owned by company insiders.

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.