Freshworks Inc. (NASDAQ:FRSH) Shares Bought by Xponance Inc.

Xponance Inc. lifted its holdings in Freshworks Inc. (NASDAQ:FRSH) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,847 shares of the company’s stock after purchasing an additional 1,369 shares during the period. Xponance Inc.’s holdings in Freshworks were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FRSH. Avion Wealth bought a new position in shares of Freshworks in the fourth quarter valued at $26,000. Point72 Hong Kong Ltd acquired a new position in shares of Freshworks in the 3rd quarter worth $57,000. Blue Trust Inc. raised its position in shares of Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after purchasing an additional 954 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after purchasing an additional 2,223 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Freshworks by 59.1% in the 4th quarter. KBC Group NV now owns 7,604 shares of the company’s stock valued at $123,000 after purchasing an additional 2,824 shares during the period. 75.58% of the stock is currently owned by institutional investors.

Freshworks Stock Performance

Shares of FRSH opened at $14.53 on Friday. The firm has a market cap of $4.38 billion, a PE ratio of -45.41 and a beta of 0.92. The firm’s 50 day moving average price is $16.92 and its 200 day moving average price is $15.05. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77.

Freshworks (NASDAQ:FRSH) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. On average, sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on FRSH. StockNews.com upgraded Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Cantor Fitzgerald upped their price target on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler lifted their price objective on shares of Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. JMP Securities set a $27.00 target price on Freshworks in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group lifted their price target on Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.14.

Insider Buying and Selling at Freshworks

In related news, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $15.49, for a total value of $72,570.65. Following the transaction, the director now directly owns 37,286 shares in the company, valued at approximately $577,560.14. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the transaction, the director now directly owns 24,187 shares of the company’s stock, valued at approximately $442,622.10. This represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,200 shares of company stock worth $1,073,021 over the last three months. Corporate insiders own 19.15% of the company’s stock.

Freshworks 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.