CenterBook Partners LP Sells 57,540 Shares of Freshworks Inc. (NASDAQ:FRSH)

CenterBook Partners LP lowered its holdings in Freshworks Inc. (NASDAQ:FRSHFree Report) by 81.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,122 shares of the company’s stock after selling 57,540 shares during the quarter. CenterBook Partners LP’s holdings in Freshworks were worth $308,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FRSH. Neo Ivy Capital Management bought a new position in shares of Freshworks during the 3rd quarter worth approximately $81,000. Quest Partners LLC bought a new position in shares of Freshworks during the 4th quarter worth approximately $166,000. Northside Capital Management LLC bought a new position in shares of Freshworks during the 4th quarter worth approximately $226,000. Xponance Inc. acquired a new position in Freshworks during the 4th quarter valued at approximately $231,000. Finally, Jasper Ridge Partners L.P. acquired a new position in Freshworks during the 3rd quarter valued at approximately $217,000. Institutional investors own 75.58% of the company’s stock.

Insider Activity

In other news, Director Jennifer H. Taylor sold 7,035 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $18.08, for a total value of $127,192.80. Following the completion of the sale, the director now directly owns 19,991 shares in the company, valued at $361,437.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Zachary Nelson sold 8,442 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $12.75, for a total transaction of $107,635.50. Following the completion of the sale, the director now directly owns 16,535 shares in the company, valued at $210,821.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 7,035 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $18.08, for a total transaction of $127,192.80. Following the sale, the director now owns 19,991 shares of the company’s stock, valued at $361,437.28. The disclosure for this sale can be found here. Insiders sold 24,845 shares of company stock worth $367,109 over the last three months. Insiders own 19.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FRSH shares. JMP Securities cut their price target on shares of Freshworks from $29.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 2nd. Barclays cut their price target on shares of Freshworks from $20.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, May 3rd. Needham & Company LLC dropped their price objective on shares of Freshworks from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Oppenheimer downgraded shares of Freshworks from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald dropped their price objective on shares of Freshworks from $25.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Freshworks presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Check Out Our Latest Research Report on Freshworks

Freshworks Stock Down 2.3 %

FRSH opened at $12.73 on Monday. Freshworks Inc. has a 52-week low of $12.56 and a 52-week high of $24.98. The firm’s fifty day simple moving average is $15.62 and its two-hundred day simple moving average is $19.16.

Freshworks (NASDAQ:FRSHGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.02. The business had revenue of $165.14 million for the quarter, compared to the consensus estimate of $163.53 million. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. Equities research analysts expect that Freshworks Inc. will post -0.34 EPS for the current year.

About Freshworks

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding FRSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freshworks Inc. (NASDAQ:FRSHFree Report).

Institutional Ownership by Quarter for Freshworks (NASDAQ:FRSH)

Receive News & Ratings for Freshworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freshworks and related companies with MarketBeat.com's FREE daily email newsletter.