Raymond James Financial Inc. Makes New Investment in Freshworks Inc. (NASDAQ:FRSH)

Raymond James Financial Inc. purchased a new position in Freshworks Inc. (NASDAQ:FRSH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,278,030 shares of the company's stock, valued at approximately $20,666,000. Raymond James Financial Inc. owned 0.42% of Freshworks at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FRSH. Avion Wealth purchased a new stake in Freshworks during the fourth quarter worth $26,000. Blue Trust Inc. grew its stake in Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after acquiring an additional 954 shares during the last quarter. National Bank of Canada FI grew its stake in Freshworks by 1,385.8% in the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock valued at $64,000 after acquiring an additional 3,700 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after acquiring an additional 2,223 shares in the last quarter. Finally, KBC Group NV raised its position in Freshworks by 59.1% during the fourth quarter. KBC Group NV now owns 7,604 shares of the company's stock worth $123,000 after acquiring an additional 2,824 shares during the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FRSH has been the subject of a number of recent research reports. Robert W. Baird set a $18.00 price objective on shares of Freshworks in a research note on Wednesday, February 12th. Scotiabank cut their price target on Freshworks from $19.00 to $14.00 and set a "sector perform" rating for the company in a report on Thursday. JMP Securities set a $27.00 price objective on Freshworks in a research note on Wednesday, February 12th. Barclays boosted their target price on shares of Freshworks from $14.00 to $20.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald raised their price target on shares of Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.64.

Freshworks Trading Up 5.8 %

FRSH traded up $0.74 during trading on Thursday, hitting $13.52. 936,107 shares of the company's stock were exchanged, compared to its average volume of 3,597,935. The firm has a market cap of $4.08 billion, a P/E ratio of -42.24 and a beta of 0.98. The stock has a 50 day moving average price of $14.79 and a 200 day moving average price of $15.25. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Zachary Nelson sold 8,442 shares of Freshworks stock in a transaction on Monday, February 3rd. The shares were 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 $442,622.10. The trade was a 25.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $18.29, for a total transaction of $52,291.11. Following the completion of the transaction, the insider now directly owns 397,390 shares of the company's stock, valued at approximately $7,268,263.10. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,177 shares of company stock worth $498,042 over the last 90 days. Company insiders own 19.15% of the company's stock.

Freshworks Profile

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.