Versor Investments LP Purchases New Position in Freshworks Inc. (NASDAQ:FRSH)

Versor Investments LP bought a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 33,400 shares of the company's stock, valued at approximately $383,000.

A number of other hedge funds also recently bought and sold shares of FRSH. Blue Trust Inc. raised its position in shares of Freshworks by 1,987.3% during the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company's stock worth $38,000 after acquiring an additional 2,822 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Freshworks by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company's stock valued at $54,000 after purchasing an additional 757 shares during the last quarter. CWM LLC grew its stake in shares of Freshworks by 554.5% in the 2nd quarter. CWM LLC now owns 3,397 shares of the company's stock valued at $43,000 after purchasing an additional 2,878 shares during the last quarter. Covestor Ltd boosted its stake in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company's stock valued at $41,000 after buying an additional 1,704 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company's stock valued at $55,000 after buying an additional 2,645 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

Freshworks Trading Down 3.6 %

Shares of Freshworks stock traded down $0.59 during trading hours on Friday, reaching $15.73. 4,750,984 shares of the company's stock were exchanged, compared to its average volume of 2,841,472. The company has a 50 day moving average of $12.04 and a two-hundred day moving average of $12.56. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $24.98.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FRSH shares. Wells Fargo & Company boosted their price target on Freshworks from $11.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on Freshworks from $17.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Barclays decreased their target price on Freshworks from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 31st. Scotiabank reduced their price target on Freshworks from $18.00 to $16.00 and set a "sector perform" rating for the company in a report on Wednesday, July 31st. Finally, Jefferies Financial Group cut their price objective on Freshworks from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.69.

Insiders Place Their Bets

In related news, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total value of $97,316.82. Following the transaction, the director now owns 22,530 shares in the company, valued at $259,996.20. The trade was a 27.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total transaction of $52,331.45. Following the completion of the transaction, the director now owns 35,853 shares in the company, valued at approximately $400,478.01. The trade was a 11.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,463 shares of company stock worth $406,714 over the last three months. Insiders own 19.15% of the company's stock.

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.