Freshworks Inc. (NASDAQ:FRSH) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 85.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,799 shares of the company’s stock after selling 65,100 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Freshworks were worth $258,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. increased its position in shares of Freshworks by 373.8% during the third quarter. Advisors Asset Management Inc. now owns 1,663 shares of the company’s stock worth $33,000 after purchasing an additional 1,312 shares in the last quarter. Quarry LP acquired a new position in shares of Freshworks in the 2nd quarter valued at $35,000. UBS Group AG increased its position in shares of Freshworks by 117.5% in the 3rd quarter. UBS Group AG now owns 3,574 shares of the company’s stock valued at $46,000 after acquiring an additional 1,931 shares during the period. Quantbot Technologies LP acquired a new position in shares of Freshworks in the 1st quarter valued at $59,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Freshworks in the 3rd quarter valued at $81,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Freshworks Stock Performance

NASDAQ:FRSH opened at $17.30 on Wednesday. Freshworks Inc. has a fifty-two week low of $12.22 and a fifty-two week high of $24.98. The company has a 50 day moving average price of $19.16 and a 200 day moving average price of $20.10. The stock has a market capitalization of $5.15 billion, a P/E ratio of -36.81 and a beta of 0.90.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on FRSH. Needham & Company LLC upped their target price on Freshworks from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 28th. Jefferies Financial Group raised Freshworks from a “hold” rating to a “buy” rating and upped their target price 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 price target on shares of Freshworks in a report on Wednesday, February 7th. Wolfe Research raised shares of Freshworks from a “peer perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a report on Tuesday, February 20th. Finally, JMP Securities increased their target price on shares of Freshworks from $25.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Insider Buying and Selling at Freshworks

In other news, Director Jennifer H. Taylor sold 7,035 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $21.71, for a total value of $152,729.85. Following the completion of the transaction, the director now owns 19,490 shares of the company’s stock, valued at $423,127.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Rathnagirish Mathrubootham sold 430,149 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.44, for a total transaction of $8,792,245.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jennifer H. Taylor sold 7,035 shares of Freshworks stock in a transaction on Monday, February 12th. The shares were sold at an average price of $21.71, for a total value of $152,729.85. Following the completion of the transaction, the director now owns 19,490 shares of the company’s stock, valued at $423,127.90. The disclosure for this sale can be found here. Insiders sold a total of 460,792 shares of company stock valued at $9,408,403 in the last three months. 26.66% of the stock is owned by corporate 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.