Olympiad Research LP Has $419,000 Holdings in Freshworks Inc. (NASDAQ:FRSH)

Olympiad Research LP lessened its stake in Freshworks Inc. (NASDAQ:FRSH) by 38.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,920 shares of the company’s stock after selling 15,935 shares during the quarter. Olympiad Research LP’s holdings in Freshworks were worth $419,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Avion Wealth acquired a new stake in shares of Freshworks in the 4th quarter valued at approximately $26,000. Blue Trust Inc. raised its stake in 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 during the period. Covestor Ltd raised its stake 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 acquiring an additional 1,704 shares during the period. Point72 Hong Kong Ltd bought a new stake in Freshworks in the 3rd quarter valued at $57,000. Finally, Nisa Investment Advisors LLC raised its stake 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 acquiring an additional 2,223 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FRSH. JMP Securities increased their price target on Freshworks from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Barclays increased their price target on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Piper Sandler increased their price target on Freshworks from $20.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Scotiabank increased their price target on Freshworks from $17.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on Freshworks from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One research 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.62.

Freshworks Stock Performance

Shares of NASDAQ FRSH opened at $17.31 on Friday. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $20.91. The stock has a market capitalization of $5.24 billion, a P/E ratio of -54.09 and a beta of 0.91. The stock’s fifty day moving average is $17.08 and its 200 day moving average is $14.34.

Freshworks (NASDAQ:FRSH) last issued its quarterly 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 6.63% and a negative net margin of 13.24%. Equities research analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mika Yamamoto sold 2,859 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.29, for a total value of $52,291.11. Following the sale, the insider now directly owns 397,390 shares of the company’s stock, valued at $7,268,263.10. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $16.74, for a total value of $78,510.60. Following the completion of the sale, the director now directly owns 36,689 shares in the company, valued at $614,173.86. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,727,211 shares of company stock worth $27,224,746. Company 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.