Teacher Retirement System of Texas Takes Position in Freshworks Inc. (NASDAQ:FRSH)

Teacher Retirement System of Texas bought a new position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 112,834 shares of the company's stock, valued at approximately $1,825,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC acquired a new position in shares of Freshworks during the third quarter valued at about $867,000. Charles Schwab Investment Management Inc. raised its stake in Freshworks by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,556,772 shares of the company's stock worth $17,872,000 after buying an additional 24,558 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Freshworks by 8.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,229 shares of the company's stock worth $462,000 after buying an additional 3,182 shares during the period. Verition Fund Management LLC boosted its holdings in Freshworks by 1,099.9% in the third quarter. Verition Fund Management LLC now owns 211,171 shares of the company's stock worth $2,424,000 after acquiring an additional 193,572 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Freshworks in the third quarter valued at approximately $1,193,000. 75.58% of the stock is owned by institutional investors.

Insider Buying and Selling at Freshworks

In other news, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the completion of the transaction, the director now owns 37,286 shares in the company, valued at $577,560.14. This trade represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.84, for a total transaction of $45,286.56. Following the completion of the sale, the insider now directly owns 400,249 shares in the company, valued at approximately $6,339,944.16. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,200 shares of company stock worth $1,073,021 over the last ninety days. 19.15% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

FRSH has been the topic of a number of recent research reports. Cantor Fitzgerald raised their price objective on shares of Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $25.00 price target on shares of Freshworks in a research report on Monday, March 17th. StockNews.com raised Freshworks from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Canaccord Genuity Group raised their target price on Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Robert W. Baird set a $18.00 price target on Freshworks in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.14.

Freshworks Stock Performance

FRSH stock traded down $0.63 during mid-day trading on Friday, hitting $14.53. The company had a trading volume of 2,707,630 shares, compared to its average volume of 3,243,253. The firm has a market cap of $4.38 billion, a PE ratio of -45.41 and a beta of 0.92. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The stock's fifty day moving average price is $16.92 and its two-hundred day moving average price is $15.08.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted 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 6.63% and a negative net margin of 13.24%. Equities analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

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.