US Bancorp DE Has $118,000 Holdings in Freshworks Inc. $FRSH

US Bancorp DE raised its position in Freshworks Inc. (NASDAQ:FRSH) by 671.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,331 shares of the company’s stock after buying an additional 7,251 shares during the period. US Bancorp DE’s holdings in Freshworks were worth $118,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eminence Capital LP acquired a new position in shares of Freshworks during the fourth quarter worth approximately $86,002,000. TPG GP A LLC raised its stake in shares of Freshworks by 28.7% during the fourth quarter. TPG GP A LLC now owns 4,346,855 shares of the company’s stock worth $70,289,000 after buying an additional 969,283 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Freshworks in the fourth quarter valued at approximately $49,946,000. Northern Trust Corp increased its stake in Freshworks by 10.5% in the fourth quarter. Northern Trust Corp now owns 2,039,458 shares of the company’s stock valued at $32,978,000 after purchasing an additional 193,322 shares in the last quarter. Finally, Topline Capital Management LLC bought a new stake in shares of Freshworks during the fourth quarter worth $27,166,000. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Freshworks

In related news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $14.80, for a total transaction of $124,808.40. Following the transaction, the director owned 38,870 shares in the company, valued at $575,276. The trade was a 17.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Rathnagirish Mathrubootham sold 70,997 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $16.01, for a total transaction of $1,136,661.97. Following the sale, the chairman owned 724,515 shares of the company’s stock, valued at $11,599,485.15. This trade represents a 8.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,491 shares of company stock worth $3,101,115 over the last ninety days. 11.17% of the stock is owned by corporate insiders.

Freshworks Price Performance

FRSH opened at $13.08 on Monday. The company’s 50 day moving average price is $14.34 and its two-hundred day moving average price is $14.90. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -72.66 and a beta of 0.94.

Freshworks (NASDAQ:FRSH) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The company had revenue of $204.68 million for the quarter, compared to analyst estimates of $198.85 million. During the same period in the prior year, the firm posted $0.08 EPS. The company’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, equities research analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FRSH shares. Scotiabank increased their target price on shares of Freshworks from $14.00 to $18.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. Wall Street Zen raised shares of Freshworks from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 29th. UBS Group lowered their price target on shares of Freshworks from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Freshworks in a report on Wednesday, April 30th. Finally, Morgan Stanley raised their price target on shares of Freshworks from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Freshworks currently has a consensus rating of “Moderate Buy” and an average target price of $20.29.

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.