Sei Investments Co. Grows Stock Position in Freshworks Inc. (NASDAQ:FRSH)

Sei Investments Co. lifted its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 191.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 46,469 shares of the company's stock after buying an additional 30,524 shares during the quarter. Sei Investments Co.'s holdings in Freshworks were worth $751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of Freshworks by 7.1% during the third quarter. State Street Corp now owns 4,729,093 shares of the company's stock worth $54,290,000 after acquiring an additional 313,982 shares during the period. Y Intercept Hong Kong Ltd increased its position in Freshworks by 4.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 132,261 shares of the company's stock worth $1,518,000 after buying an additional 5,901 shares during the period. Barclays PLC lifted its holdings 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 buying an additional 84,568 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Freshworks by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company's stock valued at $52,750,000 after acquiring an additional 66,342 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in Freshworks during the third quarter worth about $534,000. Institutional investors own 75.58% of the company's stock.

Insider Buying and Selling

In related news, Director Zachary Nelson sold 8,442 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $18.30, for a total transaction of $154,488.60. Following the completion of the transaction, the director now owns 24,187 shares in the company, valued at approximately $442,622.10. This represents a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Johanna Flower sold 21,400 shares of the firm's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $18.00, for a total transaction of $385,200.00. Following the sale, the director now owns 41,491 shares of the company's stock, valued at $746,838. This trade represents a 34.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,577 shares of company stock worth $883,242. 19.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FRSH shares. Barclays raised their price objective on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Oppenheimer dropped 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. Needham & Company LLC reiterated a "buy" rating and set a $25.00 price target on shares of Freshworks in a report on Monday, March 17th. UBS Group set a $22.00 price objective on Freshworks in a report on Thursday, February 6th. Finally, Cantor Fitzgerald increased their target price on Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $20.79.

Freshworks Trading Down 0.3 %

NASDAQ FRSH traded down $0.04 during trading hours on Friday, hitting $12.53. The company's stock had a trading volume of 2,258,917 shares, compared to its average volume of 3,313,693. The company has a market capitalization of $3.78 billion, a PE ratio of -39.16 and a beta of 0.98. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The company's 50-day simple moving average is $15.65 and its two-hundred day simple moving average is $15.23.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (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%. Research analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

About Freshworks

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.