Freshworks Inc. (NASDAQ:FRSH) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP grew its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 5,065.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 816,978 shares of the company's stock after purchasing an additional 801,162 shares during the period. Marshall Wace LLP owned about 0.27% of Freshworks worth $13,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Freshworks in the 4th quarter valued at $61,530,000. Norges Bank purchased a new stake in shares of Freshworks during the 4th quarter worth about $57,527,000. JPMorgan Chase & Co. grew its position in shares of Freshworks by 49.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company's stock valued at $60,503,000 after acquiring an additional 1,752,995 shares during the period. Vanguard Group Inc. grew its position in shares of Freshworks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company's stock valued at $405,283,000 after acquiring an additional 1,357,526 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Freshworks in the 4th quarter valued at about $20,666,000. Institutional investors and hedge funds own 75.58% of the company's stock.

Freshworks Price Performance

Freshworks stock traded up $0.43 during trading on Friday, reaching $14.07. 2,945,492 shares of the company were exchanged, compared to its average volume of 3,615,099. The stock's 50 day simple moving average is $14.72 and its two-hundred day simple moving average is $15.27. The company has a market capitalization of $4.24 billion, a P/E ratio of -43.97 and a beta of 0.98. 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 posted its quarterly earnings results 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 return on equity of 6.63% and a negative net margin of 13.24%. As a group, equities analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.

Insider Buying and Selling at Freshworks

In other news, insider Mika Yamamoto sold 2,859 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $18.29, for a total value of $52,291.11. Following the completion of the transaction, the insider now owns 397,390 shares of the company's stock, valued at approximately $7,268,263.10. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the completion of the transaction, the director now owns 24,187 shares of the company's stock, valued at approximately $442,622.10. This trade represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,177 shares of company stock valued at $498,042 over the last 90 days. 19.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on FRSH shares. Piper Sandler dropped their price objective on Freshworks from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price objective on shares of Freshworks in a report on Monday, March 17th. UBS Group set a $22.00 target price on shares of Freshworks in a research note on Thursday, February 6th. Cantor Fitzgerald raised their price target on shares of Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Oppenheimer lowered their price objective on Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Freshworks has an average rating of "Moderate Buy" and an average price target of $19.64.

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.