Freshworks Inc. (NASDAQ:FRSH) Stock Holdings Boosted by Trexquant Investment LP

Trexquant Investment LP boosted its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 364.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 915,887 shares of the company's stock after acquiring an additional 718,763 shares during the quarter. Trexquant Investment LP owned 0.30% of Freshworks worth $14,810,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FRSH. Headlands Technologies LLC acquired a new stake in Freshworks in the 4th quarter valued at approximately $1,401,000. Geode Capital Management LLC lifted its position in Freshworks by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,673,600 shares of the company's stock worth $75,588,000 after acquiring an additional 79,388 shares during the period. National Bank of Canada FI grew its position in Freshworks by 1,385.8% in the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock valued at $64,000 after buying an additional 3,700 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Freshworks during the fourth quarter worth about $61,530,000. Finally, Cornercap Investment Counsel Inc. boosted its stake in shares of Freshworks by 23.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 26,916 shares of the company's stock valued at $435,000 after buying an additional 5,104 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Stock Down 6.2 %

Shares of NASDAQ FRSH traded down $0.81 during midday trading on Friday, hitting $12.29. The stock had a trading volume of 6,114,732 shares, 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 $15.17. The company 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 released its quarterly earnings data 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%. On average, research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Robert W. Baird set a $18.00 price target on shares of Freshworks in a report on Wednesday, February 12th. Canaccord Genuity Group upped their price target on Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Scotiabank lifted their price objective on Freshworks from $17.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Morgan Stanley upped their target price on Freshworks from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Finally, 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 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 issued a buy rating to the company's stock. According to data from MarketBeat, Freshworks has a consensus rating of "Moderate Buy" and an average price target of $21.14.

Insider Transactions at Freshworks

In other Freshworks news, Director Johanna Flower sold 21,400 shares of the firm's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $18.00, for a total value of $385,200.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Zachary Nelson sold 8,442 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.30, for a total transaction of $154,488.60. Following the transaction, the director now directly owns 24,187 shares of the company's stock, valued at approximately $442,622.10. This trade represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,262 shares of company stock valued at $955,812. 19.15% of the stock is currently owned by corporate insiders.

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.