Freshworks Inc. (NASDAQ:FRSH) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,429,366 shares of the company's stock after acquiring an additional 293,266 shares during the period. Renaissance Technologies LLC owned approximately 1.13% of Freshworks worth $55,453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Smith Group Asset Management LLC purchased a new position in Freshworks during the 4th quarter worth $589,000. Barclays PLC grew its stake in shares of 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 last quarter. Raymond James Financial Inc. acquired a new position in shares of Freshworks during the fourth quarter valued at about $20,666,000. Geode Capital Management LLC raised its position in shares of Freshworks by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company's stock valued at $52,750,000 after purchasing an additional 66,342 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in Freshworks in the 4th quarter worth approximately $2,290,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FRSH has been the topic of a number of research analyst reports. StockNews.com raised shares of Freshworks from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Morgan Stanley increased their price objective on Freshworks from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Robert W. Baird set a $18.00 price objective on Freshworks in a research note on Wednesday, February 12th. Barclays upped their target price on Freshworks from $14.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Finally, Oppenheimer decreased their price objective on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.79.

Insider Activity at Freshworks

In related news, Director Johanna Flower sold 21,400 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $18.00, for a total transaction of $385,200.00. Following the completion of the sale, the director now directly owns 41,491 shares in the company, valued at approximately $746,838. The trade was a 34.03 % 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 the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.29, for a total value 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. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,577 shares of company stock valued at $883,242. 19.15% of the stock is owned by corporate insiders.

Freshworks Stock Up 2.0 %

Shares of Freshworks stock traded up $0.25 on Tuesday, reaching $12.93. The company's stock had a trading volume of 838,752 shares, compared to its average volume of 3,302,621. The company has a market capitalization of $3.90 billion, a P/E ratio of -40.41 and a beta of 0.98. The stock has a 50-day moving average price of $15.53 and a 200-day moving average price of $15.24. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results 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 return on equity of 6.63% and a negative net margin of 13.24%. Sell-side analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Freshworks Company 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.