219,262 Shares in Freshworks Inc. (NASDAQ:FRSH) Purchased by Twin Tree Management LP

Twin Tree Management LP bought a new position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 219,262 shares of the company's stock, valued at approximately $3,545,000. Twin Tree Management LP owned 0.07% of Freshworks as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swiss National Bank increased its holdings in Freshworks by 2.1% in the 4th quarter. Swiss National Bank now owns 350,500 shares of the company's stock valued at $5,668,000 after purchasing an additional 7,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Freshworks by 229.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 775,036 shares of the company's stock worth $12,532,000 after buying an additional 539,890 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Freshworks in the fourth quarter valued at about $1,343,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Freshworks by 21.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,056 shares of the company's stock valued at $793,000 after buying an additional 8,827 shares during the period. Finally, Ceera Investments LLC boosted its holdings in Freshworks by 1,261.7% in the 4th quarter. Ceera Investments LLC now owns 455,420 shares of the company's stock worth $7,364,000 after acquiring an additional 421,975 shares during the period. Institutional investors and hedge funds own 75.58% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $25.00 target price on shares of Freshworks in a research report on Monday, March 17th. Barclays boosted their price objective on shares of Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. UBS Group set a $22.00 price objective on shares of Freshworks in a research report on Thursday, February 6th. JMP Securities set a $27.00 target price on Freshworks in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company downgraded Freshworks from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $16.00 to $13.00 in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $21.14.

Freshworks Stock Performance

Shares of Freshworks stock traded up $0.25 during trading hours on Friday, reaching $15.54. The company's stock had a trading volume of 2,527,711 shares, compared to its average volume of 3,100,611. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The company's 50 day simple moving average is $17.02 and its 200 day simple moving average is $14.91. The stock has a market cap of $4.69 billion, a P/E ratio of -48.56 and a beta of 0.92.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. On average, sell-side analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 2,859 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.74, for a total transaction of $47,859.66. Following the completion of the transaction, the insider now directly owns 615,893 shares of the company's stock, valued at $10,310,048.82. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $16.72, for a total transaction of $140,999.76. Following the completion of the sale, the director now owns 24,187 shares in the company, valued at $404,406.64. The trade was a 25.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,200 shares of company stock worth $1,073,021. 19.15% of the stock is owned by insiders.

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.