Quantbot Technologies LP grew its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 80.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 426,432 shares of the company's stock after purchasing an additional 189,616 shares during the period. Quantbot Technologies LP owned approximately 0.14% of Freshworks worth $4,895,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Freshworks by 1,987.3% in the 3rd 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 last quarter. Advisors Asset Management Inc. boosted its holdings 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 in the last quarter. CWM LLC grew its position in 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 during the last quarter. Covestor Ltd increased its holdings 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 purchasing an additional 1,704 shares in the last quarter. Finally, Quarry LP raised its position in 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 during the last quarter. Institutional investors own 75.58% of the company's stock.
Insiders Place Their Bets
In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total value of $97,316.82. Following the transaction, the director now owns 22,530 shares in the company, valued at approximately $259,996.20. This represents a 27.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the completion of the sale, the director now directly owns 35,853 shares of the company's stock, valued at $400,478.01. This trade represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,463 shares of company stock worth $406,714. 19.15% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on FRSH shares. Piper Sandler boosted their price target on Freshworks from $13.00 to $18.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Jefferies Financial Group reduced their target price on shares of Freshworks from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Scotiabank dropped their price target on shares of Freshworks from $18.00 to $16.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 31st. JMP Securities boosted their price objective on shares of Freshworks from $21.00 to $24.00 and gave the stock a "market outperform" rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on Freshworks from $17.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Freshworks currently has a consensus rating of "Moderate Buy" and an average price target of $18.69.
Read Our Latest Analysis on FRSH
Freshworks Stock Performance
Shares of FRSH stock traded down $0.49 during trading hours on Wednesday, hitting $15.83. 3,774,128 shares of the company were exchanged, compared to its average volume of 2,918,950. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $24.98. The company has a 50 day simple moving average of $12.77 and a two-hundred day simple moving average of $12.55. The firm has a market cap of $4.79 billion, a P/E ratio of -46.79 and a beta of 0.72.
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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