Thrivent Financial for Lutherans bought a new position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 57,911 shares of the company's stock, valued at approximately $937,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avion Wealth bought a new position in shares of Freshworks during the 4th quarter valued at about $26,000. Point72 Hong Kong Ltd acquired a new stake in Freshworks during the 3rd quarter worth approximately $57,000. Blue Trust Inc. lifted its stake in Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after buying an additional 954 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Freshworks by 102.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after buying an additional 2,223 shares during the period. Finally, KBC Group NV increased its position in shares of 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 in the last quarter. 75.58% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price objective on shares of Freshworks in a research report on Monday, March 17th. Piper Sandler lifted their target price on Freshworks from $20.00 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Robert W. Baird set a $18.00 price target on Freshworks in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald lifted their price objective on shares of Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.14.
Get Our Latest Stock Report on FRSH
Freshworks Trading Down 6.2 %
Shares of Freshworks stock traded down $0.81 during trading on Friday, hitting $12.29. 6,114,732 shares of the stock were exchanged, compared to its average volume of 3,270,273. The company has a fifty day moving average price of $16.51 and a 200-day moving average price of $15.19. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -38.41 and a beta of 0.98. 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 announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share 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 research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.
Insider Buying and Selling at Freshworks
In other news, Director Jennifer H. Taylor sold 4,685 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $15.49, for a total transaction of $72,570.65. Following the completion of the sale, the director now owns 37,286 shares in the company, valued at approximately $577,560.14. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Johanna Flower sold 21,400 shares of Freshworks 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 directly owns 41,491 shares of the company's stock, valued at $746,838. The trade was a 34.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,262 shares of company stock valued at $955,812 in the last quarter. 19.15% of the stock is currently owned by insiders.
About Freshworks
(
Free Report)
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.
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