Freshworks Inc. (NASDAQ:FRSH) Shares Sold by Gagnon Securities LLC

Gagnon Securities LLC lowered its position in shares of Freshworks Inc. (NASDAQ:FRSH) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 815,771 shares of the company’s stock after selling 104,474 shares during the period. Freshworks makes up about 2.7% of Gagnon Securities LLC’s investment portfolio, making the stock its 13th largest position. Gagnon Securities LLC’s holdings in Freshworks were worth $13,191,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after purchasing an additional 954 shares during the last quarter. Covestor Ltd grew its position in Freshworks by 89.9% in the 3rd quarter. Covestor Ltd now owns 3,599 shares of the company’s stock valued at $41,000 after buying an additional 1,704 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after buying an additional 2,223 shares in the last quarter. Quarry LP grew its position in Freshworks by 157.6% in the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock valued at $55,000 after buying an additional 2,645 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Freshworks by 59.1% during 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 in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FRSH has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Robert W. Baird cut their price objective on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. JMP Securities increased their price target on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of Freshworks in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Freshworks currently has an average rating of “Moderate Buy” and a consensus target price of $19.07.

Freshworks Stock Performance

Shares of FRSH opened at $18.60 on Friday. The business has a 50-day moving average of $16.63 and a 200-day moving average of $13.80. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $23.00.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Barry L. Padgett sold 2,345 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $17.30, for a total value of $40,568.50. Following the sale, the director now directly owns 26,957 shares in the company, valued at $466,356.10. The trade was a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Johanna Flower sold 21,400 shares of Freshworks stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $18.00, for a total value of $385,200.00. Following the completion of the transaction, the director now owns 41,491 shares of the company’s stock, valued at approximately $746,838. This trade represents a 34.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,723,563 shares of company stock valued at $27,106,218. Company insiders own 19.15% of the company’s stock.

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.