Oberweis Asset Management Inc. purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 826,600 shares of the company's stock, valued at approximately $13,366,000. Oberweis Asset Management Inc. owned 0.27% of Freshworks as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC grew its holdings in Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company's stock worth $3,875,000 after acquiring an additional 84,568 shares during the period. Tidal Investments LLC acquired a new stake in Freshworks during the 3rd quarter valued at $534,000. Franklin Resources Inc. boosted its position in shares of Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company's stock worth $44,934,000 after buying an additional 604,658 shares during the period. JPMorgan Chase & Co. grew its holdings 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 buying an additional 1,752,995 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Freshworks in the 4th quarter worth about $190,000. Institutional investors own 75.58% of the company's stock.
Freshworks Trading Up 3.2 %
Shares of NASDAQ FRSH traded up $0.43 during mid-day trading on Friday, hitting $14.07. The company had a trading volume of 3,120,803 shares, compared to its average volume of 3,339,470. The firm has a 50-day simple moving average of $14.65 and a two-hundred day simple moving average of $15.32. The company has a market capitalization of $4.24 billion, a PE ratio of -43.97 and a beta of 0.98. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77.
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 net margin of 13.24% and a negative return on equity of 6.63%. Sell-side analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.29, for a total value of $52,291.11. Following the sale, the insider now owns 397,390 shares in the company, valued at approximately $7,268,263.10. This represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the sale, the director now owns 24,187 shares of the company's stock, valued at approximately $442,622.10. This represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,177 shares of company stock valued at $498,042. 19.15% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. Piper Sandler decreased their price target on shares of Freshworks from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday. UBS Group set a $22.00 price objective on Freshworks in a report on Thursday, February 6th. Barclays raised their target price on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Robert W. Baird set a $18.00 price target on Freshworks in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their price objective on shares of Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. One research 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.64.
Check Out Our Latest Stock Analysis on FRSH
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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