Calamos Advisors LLC Buys 10,465 Shares of Freshworks Inc. (NASDAQ:FRSH)

Calamos Advisors LLC raised its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 39.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,804 shares of the company’s stock after acquiring an additional 10,465 shares during the period. Calamos Advisors LLC’s holdings in Freshworks were worth $865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FRSH. BlackRock Inc. boosted its stake in Freshworks by 210.2% in the 2nd quarter. BlackRock Inc. now owns 11,984,191 shares of the company’s stock valued at $210,682,000 after purchasing an additional 8,120,351 shares during the period. Vanguard Group Inc. grew its stake in shares of Freshworks by 37.9% in the third quarter. Vanguard Group Inc. now owns 12,599,434 shares of the company’s stock valued at $163,415,000 after acquiring an additional 3,460,129 shares in the last quarter. State Street Corp increased its position in Freshworks by 239.7% during the second quarter. State Street Corp now owns 3,294,195 shares of the company’s stock worth $57,912,000 after acquiring an additional 2,324,432 shares during the period. Soros Fund Management LLC acquired a new stake in Freshworks in the 1st quarter worth about $34,883,000. Finally, Lord Abbett & CO. LLC bought a new stake in Freshworks in the 3rd quarter valued at about $34,644,000. Institutional investors and hedge funds own 75.58% of the company’s stock.

Insider Buying and Selling

In related news, Director Barry L. Padgett sold 4,690 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.22, for a total transaction of $94,831.80. Following the completion of the transaction, the director now directly owns 17,387 shares of the company’s stock, valued at approximately $351,565.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Johanna Flower sold 4,800 shares of Freshworks stock in a transaction on Monday, March 11th. The shares were sold at an average price of $19.05, for a total transaction of $91,440.00. Following the completion of the transaction, the director now owns 23,451 shares of the company’s stock, valued at $446,741.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Barry L. Padgett sold 4,690 shares of Freshworks stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.22, for a total value of $94,831.80. Following the completion of the transaction, the director now directly owns 17,387 shares of the company’s stock, valued at $351,565.14. 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 90 days. 26.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FRSH. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of Freshworks in a research report on Wednesday, February 7th. JMP Securities lifted their price objective on Freshworks from $25.00 to $29.00 and gave the company a “market outperform” rating in a report on Wednesday, February 7th. Wolfe Research raised Freshworks from a “peer perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a report on Tuesday, February 20th. Jefferies Financial Group raised Freshworks from a “hold” rating to a “buy” rating and boosted their price target for the company from $20.00 to $30.00 in a research note on Friday, January 5th. Finally, Morgan Stanley reduced their price objective on shares of Freshworks from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Freshworks presently has an average rating of “Moderate Buy” and an average price target of $25.29.

Freshworks Stock Down 0.3 %

Shares of FRSH stock opened at $17.59 on Monday. The firm has a market capitalization of $5.24 billion, a P/E ratio of -37.43 and a beta of 0.90. Freshworks Inc. has a twelve month low of $12.22 and a twelve month high of $24.98. The stock’s fifty day simple moving average is $18.94 and its 200 day simple moving average is $20.07.

Freshworks (NASDAQ:FRSH) last posted its 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. Freshworks had a negative net margin of 23.04% and a negative return on equity of 12.55%. The business had revenue of $160.11 million for the quarter, compared to the consensus estimate of $158.11 million. As a group, equities research analysts expect that Freshworks Inc. will post -0.37 EPS for the current fiscal year.

About Freshworks

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.