Sapient Capital LLC Invests $306,000 in Freshworks Inc. (NASDAQ:FRSH)

Sapient Capital LLC bought a new position in shares of Freshworks Inc. (NASDAQ:FRSH) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,023 shares of the company’s stock, valued at approximately $306,000.

Other large investors have also recently added to or reduced their stakes in the company. Moody Aldrich Partners LLC purchased a new stake in shares of Freshworks in the 4th quarter valued at approximately $4,482,000. International Assets Investment Management LLC purchased a new stake in shares of Freshworks in the 4th quarter valued at approximately $483,000. Arizona State Retirement System increased its position in shares of Freshworks by 3.6% in the 4th quarter. Arizona State Retirement System now owns 42,120 shares of the company’s stock valued at $989,000 after purchasing an additional 1,453 shares during the last quarter. Legato Capital Management LLC increased its position in shares of Freshworks by 13.3% in the 4th quarter. Legato Capital Management LLC now owns 60,895 shares of the company’s stock valued at $1,430,000 after purchasing an additional 7,158 shares during the last quarter. Finally, Northside Capital Management LLC purchased a new stake in shares of Freshworks in the 4th quarter valued at approximately $226,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Freshworks Stock Performance

FRSH opened at $17.96 on Monday. The company’s 50 day simple moving average is $19.34 and its 200 day simple moving average is $20.13. Freshworks Inc. has a 1 year low of $12.22 and a 1 year high of $24.98. The stock has a market capitalization of $5.35 billion, a PE ratio of -38.21 and a beta of 0.90.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. The business had revenue of $160.11 million for the quarter, compared to analysts’ expectations of $158.11 million. Freshworks had a negative net margin of 23.04% and a negative return on equity of 12.55%. As a group, sell-side analysts expect that Freshworks Inc. will post -0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Jefferies Financial Group raised shares of Freshworks from a “hold” rating to a “buy” rating and increased their price objective for the company from $20.00 to $30.00 in a research report on Friday, January 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Freshworks in a research report on Wednesday, February 7th. Piper Sandler increased their target price on shares of Freshworks from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. JMP Securities increased their target price on shares of Freshworks from $25.00 to $29.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 7th. Finally, Needham & Company LLC increased their target price on shares of Freshworks from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 28th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Freshworks presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $21.54, for a total transaction of $135,766.62. Following the transaction, the director now directly owns 88,431 shares of the company’s stock, valued at $1,904,803.74. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Jennifer H. Taylor sold 7,035 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $21.71, for a total transaction of $152,729.85. Following the transaction, the director now directly owns 19,490 shares of the company’s stock, valued at $423,127.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction on Friday, February 9th. The stock was sold at an average price of $21.54, for a total transaction of $135,766.62. Following the completion of the sale, the director now owns 88,431 shares of the company’s stock, valued at approximately $1,904,803.74. The disclosure for this sale can be found here. Insiders have sold a total of 460,792 shares of company stock valued at $9,408,403 over the last ninety days. Corporate insiders own 26.66% 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.