Freshworks Inc. (NASDAQ:FRSH) Holdings Decreased by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. cut its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 558,914 shares of the company's stock after selling 52,595 shares during the period. Freshworks accounts for 1.3% of Stanley Laman Group Ltd.'s portfolio, making the stock its 7th largest holding. Stanley Laman Group Ltd. owned 0.18% of Freshworks worth $9,038,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Avion Wealth bought a new stake in shares of Freshworks during the 4th quarter valued at $26,000. Blue Trust Inc. raised its position in shares of Freshworks by 1,987.3% during 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 period. Covestor Ltd raised its position in shares of Freshworks by 89.9% during the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company's stock valued at $41,000 after purchasing an additional 1,704 shares during the period. Nisa Investment Advisors LLC raised its position in shares of 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 purchasing an additional 2,223 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Freshworks during the 3rd quarter valued at $57,000. 75.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FRSH has been the topic of several recent analyst reports. Scotiabank raised their price objective on shares of Freshworks from $17.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday. Needham & Company LLC raised their target price on shares of Freshworks from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday. Cantor Fitzgerald raised their target price on shares of Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday. Piper Sandler raised their target price on shares of Freshworks from $20.00 to $24.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, JMP Securities raised their target price on shares of Freshworks from $21.00 to $24.00 and gave the company a "market outperform" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $21.07.

Freshworks Price Performance

Shares of FRSH stock traded down $0.38 during trading hours on Friday, reaching $17.05. 3,844,448 shares of the stock were exchanged, compared to its average volume of 3,932,087. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $21.61. The company's 50-day moving average price is $17.00 and its 200-day moving average price is $14.13.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results 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 8.57% and a negative net margin of 14.80%. Equities research analysts anticipate that Freshworks Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Zachary Nelson sold 8,442 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total value of $154,488.60. Following the transaction, the director now owns 24,187 shares of the company's stock, valued at $442,622.10. This represents a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.29, for a total value of $52,291.11. Following the completion of the sale, the insider now owns 397,390 shares of the company's stock, valued at $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 ninety days, insiders sold 1,727,211 shares of company stock valued at $27,224,746. 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.