Los Angeles Capital Management LLC purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 126,367 shares of the company's stock, valued at approximately $2,043,000.
Several other hedge funds have also bought and sold shares of FRSH. Avion Wealth purchased a new position in shares of Freshworks during the fourth quarter valued at approximately $26,000. Blue Trust Inc. increased its position 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 raised its stake in Freshworks by 89.9% during the third 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 last quarter. Point72 Hong Kong Ltd bought a new stake in Freshworks in the third quarter worth $57,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Freshworks by 102.4% in the fourth 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 during the last quarter. Institutional investors own 75.58% of the company's stock.
Insider Transactions at Freshworks
In related news, Director Barry L. Padgett sold 2,345 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total value of $40,568.50. Following the transaction, the director now owns 26,957 shares of the company's stock, valued at $466,356.10. This represents a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Johanna Flower sold 1,450 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total value of $26,114.50. Following the transaction, the director now owns 41,491 shares in the company, valued at $747,252.91. The trade was a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,728,661 shares of company stock worth $27,250,861. 19.15% of the stock is currently owned by insiders.
Freshworks Stock Up 0.5 %
Freshworks stock traded up $0.08 during midday trading on Tuesday, reaching $16.41. The stock had a trading volume of 1,340,687 shares, compared to its average volume of 4,097,183. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The company has a fifty day moving average of $17.21 and a 200 day moving average of $14.60. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of -51.27 and a beta of 0.91.
Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (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%. Equities research analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on FRSH shares. Cantor Fitzgerald upped their price target on shares of Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Scotiabank upped 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. JMP Securities set a $27.00 price target on Freshworks in a research note on Wednesday, February 12th. Wells Fargo & Company lowered Freshworks from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $16.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Oppenheimer upped their price objective on Freshworks from $22.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $21.14.
Read Our Latest Research Report on Freshworks
Freshworks Profile
(
Free Report)
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.
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