1,650 Shares in Freshworks Inc. (NASDAQ:FRSH) Acquired by Avion Wealth

Avion Wealth bought a new position in Freshworks Inc. (NASDAQ:FRSH) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,650 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Smith Group Asset Management LLC purchased a new position in shares of Freshworks in the 4th quarter worth $589,000. Quantbot Technologies LP boosted its position in Freshworks by 80.1% in the third quarter. Quantbot Technologies LP now owns 426,432 shares of the company’s stock worth $4,895,000 after purchasing an additional 189,616 shares during the last quarter. Barclays PLC grew its stake in shares of Freshworks by 33.4% during the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock valued at $3,875,000 after purchasing an additional 84,568 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Freshworks during the 3rd quarter valued at about $1,193,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Freshworks by 806.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,146 shares of the company’s stock worth $2,699,000 after purchasing an additional 209,194 shares during the period. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on FRSH shares. Robert W. Baird cut their target price on shares of Freshworks from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Barclays boosted their price objective on shares of Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company cut Freshworks from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $16.00 to $13.00 in a report on Tuesday, January 21st. Scotiabank lifted their target price on Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday. Finally, JMP Securities upped their price target on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.07.

Freshworks Stock Down 0.3 %

Shares of FRSH stock opened at $17.80 on Thursday. The company’s fifty day simple moving average is $16.97 and its two-hundred day simple moving average is $14.08. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $21.61. The stock has a market cap of $5.39 billion, a P/E ratio of -52.35 and a beta of 0.91.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 8.57% and a negative net margin of 14.80%. On average, analysts anticipate that Freshworks Inc. will post -0.35 EPS for the current fiscal year.

Insider Transactions at Freshworks

In related news, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $16.74, for a total value of $78,510.60. Following the completion of the transaction, the director now owns 36,689 shares in the company, valued at approximately $614,173.86. This trade represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Barry L. Padgett sold 2,345 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 1,727,211 shares of company stock valued at $27,224,746 in the last ninety days. Corporate 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.