Vanguard Group Inc. grew its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 5.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,063,879 shares of the company's stock after buying an additional 1,357,526 shares during the period. Vanguard Group Inc. owned approximately 8.28% of Freshworks worth $405,283,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Avion Wealth bought a new position in Freshworks during the fourth quarter worth $26,000. Point72 Hong Kong Ltd acquired a new position in shares of Freshworks during the third quarter valued at about $57,000. Blue Trust Inc. boosted its position in shares of Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after purchasing an additional 954 shares in the last quarter. Nisa Investment Advisors LLC boosted 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 worth $71,000 after purchasing an additional 2,223 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Freshworks by 59.1% in the 4th quarter. KBC Group NV now owns 7,604 shares of the company's stock valued at $123,000 after buying an additional 2,824 shares during the period. Institutional investors and hedge funds own 75.58% of the company's stock.
Analysts Set New Price Targets
Several research analysts have issued reports on FRSH shares. Oppenheimer increased their price target on Freshworks from $22.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company cut Freshworks from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $16.00 to $13.00 in a report on Tuesday, January 21st. JMP Securities set a $27.00 price target on shares of Freshworks in a research note on Wednesday, February 12th. Jefferies Financial Group lowered their price objective on shares of Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Finally, Robert W. Baird set a $18.00 price objective on shares of Freshworks 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.14.
Check Out Our Latest Stock Analysis on FRSH
Freshworks Stock Performance
Shares of Freshworks stock traded down $0.13 during mid-day trading on Monday, hitting $12.16. 5,160,873 shares of the stock were exchanged, compared to its average volume of 3,277,805. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The company has a 50-day simple moving average of $16.40 and a 200 day simple moving average of $15.20. The company has a market capitalization of $3.67 billion, a P/E ratio of -38.00 and a beta of 0.98.
Freshworks (NASDAQ:FRSH - Get Free Report) last issued 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%. Analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.
Insider Buying and Selling
In related news, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the sale, the director now owns 37,286 shares of the company's stock, valued at approximately $577,560.14. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Johanna Flower sold 21,400 shares of the stock in a transaction on 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 directly owns 41,491 shares of the company's stock, valued at approximately $746,838. This trade represents a 34.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,262 shares of company stock valued at $955,812. 19.15% of the stock is owned by insiders.
Freshworks Profile
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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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