Xponance Inc. Has $220,000 Stake in Freshworks Inc. (NASDAQ:FRSH)

Xponance Inc. grew its position in Freshworks Inc. (NASDAQ:FRSH) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,605 shares of the company’s stock after purchasing an additional 758 shares during the quarter. Xponance Inc.’s holdings in Freshworks were worth $220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FRSH. Cerity Partners LLC bought a new position in shares of Freshworks in the 1st quarter valued at $270,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Freshworks by 91.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company’s stock valued at $84,000 after acquiring an additional 2,814 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Freshworks by 267.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 82,502 shares of the company’s stock valued at $1,164,000 after acquiring an additional 60,063 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Freshworks by 2,786.7% in the 1st quarter. Principal Financial Group Inc. now owns 512,875 shares of the company’s stock valued at $7,237,000 after acquiring an additional 495,108 shares during the last quarter. Finally, WCM Investment Management LLC bought a new position in shares of Freshworks in the 1st quarter valued at $13,426,000. Institutional investors and hedge funds own 75.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on FRSH shares. Jefferies Financial Group decreased their price target on Freshworks from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, March 31st. Oppenheimer reduced their target price on Freshworks from $24.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Cantor Fitzgerald upgraded Freshworks to an “overweight” rating and set a $20.00 target price for the company in a research note on Tuesday, June 3rd. Piper Sandler restated an “overweight” rating and issued a $22.00 target price (up from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Finally, JMP Securities restated a “market outperform” rating and issued a $27.00 target price on shares of Freshworks in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.07.

Insider Activity

In other Freshworks news, Chairman Rathnagirish Mathrubootham sold 70,997 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $16.01, for a total value of $1,136,661.97. Following the transaction, the chairman directly owned 724,515 shares in the company, valued at $11,599,485.15. The trade was a 8.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Barry L. Padgett sold 7,558 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $15.14, for a total transaction of $114,428.12. Following the completion of the transaction, the director owned 32,635 shares in the company, valued at $494,093.90. The trade was a 18.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,075 shares of company stock valued at $3,219,261 in the last ninety days. 11.17% of the stock is currently owned by corporate insiders.

Freshworks Stock Performance

Shares of FRSH opened at $14.62 on Friday. The company has a 50 day moving average price of $15.03 and a 200-day moving average price of $15.43. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The stock has a market capitalization of $4.31 billion, a PE ratio of -60.91 and a beta of 0.95.

Freshworks (NASDAQ:FRSH) last released its earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The firm had revenue of $196.27 million for the quarter, compared to the consensus estimate of $191.90 million. Freshworks had a negative return on equity of 4.41% and a negative net margin of 9.76%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. Equities research analysts forecast that Freshworks Inc. will post -0.19 EPS for the current year.

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.