Paloma Partners Management Co purchased a new stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 70,460 shares of the company's stock, valued at approximately $809,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock worth $38,000 after purchasing an additional 2,822 shares in the last quarter. CWM LLC boosted its stake in Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company's stock worth $43,000 after buying an additional 2,878 shares in the last quarter. Covestor Ltd grew its position 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 acquiring an additional 1,704 shares during the last quarter. Quarry LP raised its stake in shares of Freshworks by 157.6% during the second quarter. Quarry LP now owns 4,323 shares of the company's stock worth $55,000 after acquiring an additional 2,645 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Freshworks in the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 75.58% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on FRSH shares. JMP Securities increased their target price on shares of Freshworks from $21.00 to $24.00 and gave the company a "market outperform" rating in a report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on Freshworks from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on Freshworks from $17.00 to $20.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on Freshworks from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $20.00 price objective on shares of Freshworks in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Freshworks presently has an average rating of "Moderate Buy" and a consensus target price of $18.69.
Read Our Latest Analysis on Freshworks
Insider Activity at Freshworks
In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the sale, the director now owns 35,853 shares in the company, valued at approximately $400,478.01. This represents a 11.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Zachary Nelson sold 8,442 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $93,199.68. Following the completion of the sale, the director now directly owns 23,497 shares in the company, valued at approximately $259,406.88. This represents a 26.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,250 shares of company stock worth $300,201 over the last ninety days. 19.15% of the stock is owned by corporate insiders.
Freshworks Trading Down 0.7 %
Freshworks stock traded down $0.12 during trading hours on Tuesday, hitting $15.98. 5,377,584 shares of the stock traded hands, compared to its average volume of 2,933,119. Freshworks Inc. has a one year low of $10.81 and a one year high of $24.98. The company has a market cap of $4.84 billion, a PE ratio of -47.00 and a beta of 0.90. The firm's 50-day moving average price is $13.23 and its two-hundred day moving average price is $12.63.
About Freshworks
(
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.
Further Reading
Before you consider Freshworks, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Freshworks wasn't on the list.
While Freshworks currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
