Catalyst Private Wealth LLC Trims Stake in Freshworks Inc. (NASDAQ:FRSH)

Catalyst Private Wealth LLC lowered its position in Freshworks Inc. (NASDAQ:FRSH) by 11.2% during the 4th quarter, HoldingsChannel reports. The firm owned 24,545 shares of the company’s stock after selling 3,100 shares during the period. Catalyst Private Wealth LLC’s holdings in Freshworks were worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of Freshworks by 1,987.3% in the 3rd quarter. Blue Trust Inc. now owns 2,964 shares of the company’s stock valued at $38,000 after acquiring an additional 2,822 shares in the last quarter. Covestor Ltd increased its position in shares of Freshworks by 89.9% in the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after purchasing an additional 1,704 shares during the last quarter. Quarry LP raised its stake in Freshworks by 157.6% in the second quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after purchasing an additional 2,645 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Freshworks during the 3rd quarter worth $57,000. Finally, Amalgamated Bank grew its position in Freshworks by 29.1% in the second quarter. Amalgamated Bank now owns 7,054 shares of the company’s stock worth $90,000 after acquiring an additional 1,588 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Freshworks Trading Up 0.1 %

Shares of FRSH stock traded up $0.01 during midday trading on Monday, reaching $15.60. 2,055,946 shares of the stock were exchanged, compared to its average volume of 2,885,990. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.64. The firm has a market cap of $4.72 billion, a PE ratio of -45.88 and a beta of 0.88. The company’s 50 day moving average is $15.93 and its two-hundred day moving average is $13.29.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FRSH shares. Robert W. Baird dropped their price target on Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Canaccord Genuity Group boosted their target price on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of Freshworks from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a research note on Tuesday, December 17th. Finally, Morgan Stanley lifted their target price on shares of Freshworks from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.08.

Insiders Place Their Bets

In other Freshworks news, insider Mika Yamamoto sold 5,718 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $16.95, for a total transaction of $96,920.10. Following the completion of the sale, the insider now directly owns 403,108 shares in the company, valued at approximately $6,832,680.60. This trade represents a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $15.85, for a total transaction of $133,663.05. Following the sale, the director now owns 24,187 shares in the company, valued at approximately $383,363.95. The trade was a 25.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,697,478 shares of company stock worth $26,648,447. 19.15% of the stock is owned by corporate insiders.

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.