Mirae Asset Global Investments Co. Ltd. Sells 24,838 Shares of Freshworks Inc. (NASDAQ:FRSH)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 46.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,192 shares of the company's stock after selling 24,838 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Freshworks were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its holdings in Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock valued at $38,000 after purchasing an additional 2,822 shares during the period. Covestor Ltd boosted its holdings in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company's stock worth $41,000 after acquiring an additional 1,704 shares during the period. Nisa Investment Advisors LLC raised its position 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 buying an additional 2,223 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Freshworks in the third quarter worth $57,000. Finally, KBC Group NV raised its position in shares of Freshworks by 59.1% in the fourth quarter. KBC Group NV now owns 7,604 shares of the company's stock worth $123,000 after buying an additional 2,824 shares in the last quarter. 75.58% of the stock is owned by institutional investors.

Freshworks Stock Down 2.2 %

Shares of FRSH traded down $0.38 during trading hours on Friday, hitting $17.05. The company had a trading volume of 3,844,448 shares, compared to its average volume of 3,932,087. The firm has a market cap of $5.16 billion, a P/E ratio of -50.15 and a beta of 0.91. The stock's 50 day moving average price is $17.00 and its 200 day moving average price is $14.15. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $21.61.

Freshworks (NASDAQ:FRSH - Get Free Report) last released 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 return on equity of 8.57% and a negative net margin of 14.80%. On average, research analysts expect that Freshworks Inc. will post -0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group increased their price objective on Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday. StockNews.com upgraded Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday. Piper Sandler increased their price objective on Freshworks from $20.00 to $24.00 and gave the stock an "overweight" rating in a research report on Wednesday. JMP Securities increased their price objective on Freshworks from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 7th. Finally, Oppenheimer increased their price objective on Freshworks from $22.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $21.07.

Insider Transactions at Freshworks

In related news, insider Mika Yamamoto sold 5,718 shares of the firm's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $16.95, for a total value of $96,920.10. Following the sale, the insider now directly owns 403,108 shares of the company's stock, valued at $6,832,680.60. This trade represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $16.74, for a total value of $78,510.60. Following the completion of the sale, the director now directly owns 36,689 shares in the company, valued at $614,173.86. The trade was a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,727,211 shares of company stock worth $27,224,746. Company insiders own 19.15% of the company's stock.

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.