Quest Partners LLC Sells 2,479 Shares of Freshworks Inc. (NASDAQ:FRSH)

Quest Partners LLC trimmed its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 10.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,477 shares of the company’s stock after selling 2,479 shares during the period. Quest Partners LLC’s holdings in Freshworks were worth $247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FRSH. Cornercap Investment Counsel Inc. bought a new stake in Freshworks during the 3rd quarter valued at approximately $250,000. GSA Capital Partners LLP lifted its holdings in shares of Freshworks by 89.4% during the third quarter. GSA Capital Partners LLP now owns 97,910 shares of the company’s stock worth $1,124,000 after buying an additional 46,204 shares during the last quarter. Versor Investments LP bought a new stake in shares of Freshworks in the third quarter valued at approximately $383,000. State of New Jersey Common Pension Fund D grew its stake in shares of Freshworks by 19.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 163,392 shares of the company’s stock worth $1,876,000 after acquiring an additional 27,139 shares during the last quarter. Finally, Covestor Ltd increased its position in Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares during the period. 75.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $12.19, for a total value of $102,798.27. Following the transaction, the director now owns 23,497 shares of the company’s stock, valued at approximately $286,428.43. The trade was a 26.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $11.17, for a total value of $52,331.45. Following the completion of the sale, the director now owns 35,853 shares of the company’s stock, valued at approximately $400,478.01. This trade represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,463 shares of company stock worth $406,714 over the last ninety days. Corporate insiders own 19.15% of the company’s stock.

Freshworks Stock Performance

Shares of NASDAQ:FRSH opened at $16.32 on Wednesday. The company has a market capitalization of $4.94 billion, a PE ratio of -47.91 and a beta of 0.72. The company’s fifty day moving average is $12.67 and its 200-day moving average is $12.53. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $24.98.

Analyst Upgrades and Downgrades

FRSH has been the subject of a number of research reports. Jefferies Financial Group reduced their price target on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on shares of Freshworks from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Freshworks in a research note on Thursday, November 7th. Barclays reduced their price objective on Freshworks from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald lowered their price objective on Freshworks from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Freshworks has an average rating of “Moderate Buy” and an average target price of $18.69.

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.