Portman Ltd purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 203,331 shares of the company's stock, valued at approximately $2,334,000. Freshworks accounts for about 5.8% of Portman Ltd's portfolio, making the stock its 4th biggest position. Portman Ltd owned approximately 0.07% of Freshworks as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Blue Trust Inc. boosted its position in shares of Freshworks by 1,987.3% during the third quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock worth $38,000 after acquiring an additional 2,822 shares during the last quarter. Covestor Ltd increased its stake in Freshworks by 89.9% in the 3rd 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 last quarter. CWM LLC raised its holdings in shares of Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company's stock worth $43,000 after acquiring an additional 2,878 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Freshworks by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company's stock valued at $54,000 after acquiring an additional 757 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company's stock valued at $55,000 after purchasing an additional 2,645 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.
Freshworks Stock Performance
FRSH remained flat at $16.54 on Friday. 6,450,930 shares of the company were exchanged, compared to its average volume of 5,522,595. The firm has a market capitalization of $5.01 billion, a P/E ratio of -48.65 and a beta of 0.72. Freshworks Inc. has a one year low of $10.81 and a one year high of $24.98. The firm has a 50 day moving average price of $12.56 and a two-hundred day moving average price of $12.52.
Wall Street Analyst Weigh In
Several equities analysts have commented on FRSH shares. JPMorgan Chase & Co. increased their price objective on shares of Freshworks from $17.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Robert W. Baird reduced their price objective on Freshworks from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Scotiabank lowered their price objective on Freshworks from $18.00 to $16.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group cut their target price on Freshworks from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Freshworks presently has an average rating of "Moderate Buy" and an average price target of $18.69.
View Our Latest Report on Freshworks
Insider Transactions at Freshworks
In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of the firm's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $11.06, for a total transaction of $51,871.40. Following the transaction, the director now owns 36,689 shares of the company's stock, valued at approximately $405,780.34. This trade represents a 11.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Zachary Nelson sold 8,442 shares of the company'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 transaction of $93,199.68. Following the completion of the sale, the director now directly owns 23,497 shares of the company's stock, valued at $259,406.88. The trade was a 26.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,463 shares of company stock valued at $406,714. 19.15% of the stock is currently owned by company insiders.
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.
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