XTX Topco Ltd Acquires New Holdings in Freshworks Inc. (NASDAQ:FRSH)

XTX Topco Ltd purchased a new position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 29,689 shares of the company's stock, valued at approximately $480,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership bought a new position in Freshworks in the fourth quarter valued at approximately $61,530,000. Norges Bank acquired a new stake in shares of Freshworks in the 4th quarter valued at approximately $57,527,000. JPMorgan Chase & Co. grew its stake in shares of Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company's stock valued at $60,503,000 after buying an additional 1,752,995 shares in the last quarter. Vanguard Group Inc. increased its holdings in Freshworks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company's stock worth $405,283,000 after buying an additional 1,357,526 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Freshworks during the fourth quarter worth $20,666,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on FRSH shares. JMP Securities set a $27.00 price objective on shares of Freshworks in a research report on Wednesday, February 12th. Robert W. Baird set a $18.00 price target on Freshworks in a report on Wednesday, February 12th. Morgan Stanley dropped their price objective on Freshworks from $21.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. UBS Group set a $22.00 target price on Freshworks in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald boosted their target price on Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.00.

Freshworks Stock Up 4.9 %

Shares of FRSH traded up $0.60 during midday trading on Wednesday, reaching $12.81. 2,323,268 shares of the stock were exchanged, compared to its average volume of 3,317,516. The stock's 50 day simple moving average is $14.88 and its 200 day simple moving average is $15.27. The company has a market cap of $3.86 billion, a P/E ratio of -40.02 and a beta of 0.98. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77.

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

Insider Activity at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $18.29, for a total transaction of $52,291.11. Following the sale, the insider now directly owns 397,390 shares in the company, valued at $7,268,263.10. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Johanna Flower sold 21,400 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $18.00, for a total transaction of $385,200.00. Following the completion of the transaction, the director now owns 41,491 shares of the company's stock, valued at $746,838. The trade was a 34.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,577 shares of company stock worth $883,242. Company insiders own 19.15% of the company's stock.

Freshworks Company 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.