Freshworks Inc. (NASDAQ:FRSH) Shares Sold by Strs Ohio

Strs Ohio reduced its stake in shares of Freshworks Inc. (NASDAQ:FRSH) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,400 shares of the company’s stock after selling 1,500 shares during the period. Strs Ohio’s holdings in Freshworks were worth $1,301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Neo Ivy Capital Management purchased a new stake in shares of Freshworks during the 3rd quarter valued at approximately $81,000. Counterpoint Mutual Funds LLC raised its position in shares of Freshworks by 29.8% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 6,833 shares of the company’s stock valued at $136,000 after buying an additional 1,567 shares during the period. Jasper Ridge Partners L.P. purchased a new stake in Freshworks in the third quarter valued at approximately $217,000. Northside Capital Management LLC purchased a new stake in Freshworks in the fourth quarter valued at approximately $226,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in Freshworks in the third quarter valued at approximately $287,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Freshworks Trading Up 3.2 %

Shares of FRSH stock opened at $18.16 on Tuesday. The firm has a fifty day moving average price of $18.87 and a 200 day moving average price of $20.06. The company has a market cap of $5.41 billion, a P/E ratio of -38.64 and a beta of 0.90. Freshworks Inc. has a 12 month low of $12.22 and a 12 month high of $24.98.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, February 6th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $160.11 million during the quarter, compared to the consensus estimate of $158.11 million. On average, equities analysts forecast that Freshworks Inc. will post -0.37 EPS for the current year.

Insiders Place Their Bets

In other Freshworks news, CEO Rathnagirish Mathrubootham sold 430,149 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.44, for a total transaction of $8,792,245.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Barry L. Padgett sold 4,690 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.22, for a total transaction of $94,831.80. Following the transaction, the director now owns 17,387 shares of the company’s stock, valued at $351,565.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Rathnagirish Mathrubootham sold 430,149 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $20.44, for a total value of $8,792,245.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 460,792 shares of company stock valued at $9,408,403. 26.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FRSH has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of Freshworks in a research report on Wednesday, February 7th. Morgan Stanley cut their target price on Freshworks from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Jefferies Financial Group raised Freshworks from a “hold” rating to a “buy” rating and boosted their target price for the company from $20.00 to $30.00 in a research report on Friday, January 5th. 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 research report on Tuesday, February 20th. Finally, Piper Sandler upped their price objective on Freshworks from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.29.

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.