36,100 Shares in Freshworks Inc. (NASDAQ:FRSH) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 36,100 shares of the company's stock, valued at approximately $584,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position 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 valued at $60,503,000 after purchasing an additional 1,752,995 shares in the last quarter. State Street Corp grew its stake in shares of Freshworks by 7.1% during the third quarter. State Street Corp now owns 4,729,093 shares of the company's stock valued at $54,290,000 after buying an additional 313,982 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Freshworks by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company's stock worth $52,750,000 after acquiring an additional 66,342 shares during the last quarter. Franklin Resources Inc. grew its position 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 acquiring an additional 604,658 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Freshworks by 3.4% during the fourth 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. 75.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FRSH has been the subject of several research reports. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of Freshworks in a research report on Monday, March 17th. Canaccord Genuity Group boosted their price target on Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Robert W. Baird set a $18.00 price objective on Freshworks in a report on Wednesday, February 12th. Wells Fargo & Company lowered Freshworks from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $16.00 to $13.00 in a research report on Tuesday, January 21st. Finally, JMP Securities set a $27.00 price target on Freshworks in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Freshworks currently has an average rating of "Moderate Buy" and an average target price of $21.14.

Insiders Place Their Bets

In other news, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $15.49, for a total value of $72,570.65. Following the transaction, the director now directly owns 37,286 shares of the company's stock, valued at approximately $577,560.14. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of Freshworks 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 sale, the director now directly owns 24,187 shares of the company's stock, valued at $442,622.10. This trade represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,262 shares of company stock valued at $955,812. 19.15% of the stock is currently owned by corporate insiders.

Freshworks Stock Down 1.1 %

Shares of Freshworks stock traded down $0.13 on Monday, reaching $12.16. The stock had a trading volume of 5,160,873 shares, compared to its average volume of 3,277,803. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The company has a 50 day moving average price of $16.40 and a 200 day moving average price of $15.20. The stock has a market capitalization of $3.67 billion, a P/E ratio of -38.00 and a beta of 0.98.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS 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%. On average, analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current fiscal 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.