Blue Trust Inc. Purchases 2,822 Shares of Freshworks Inc. (NASDAQ:FRSH)

Blue Trust Inc. increased its position in Freshworks Inc. (NASDAQ:FRSH) by 1,987.3% in the third quarter, Holdings Channel.com reports. The fund owned 2,964 shares of the company’s stock after acquiring an additional 2,822 shares during the quarter. Blue Trust Inc.’s holdings in Freshworks were worth $38,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FRSH. Advisors Asset Management Inc. raised its stake in Freshworks by 34.2% in the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $54,000 after purchasing an additional 757 shares in the last quarter. CWM LLC raised its stake in Freshworks by 554.5% in the second quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after purchasing an additional 2,878 shares in 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. EntryPoint Capital LLC purchased a new stake in Freshworks in the first quarter valued at approximately $82,000. Finally, International Assets Investment Management LLC purchased a new stake in Freshworks in the second quarter valued at approximately $58,000. 75.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of Freshworks from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company assumed coverage on shares of Freshworks in a research note on Wednesday, October 16th. They set an “equal weight” rating and a $11.00 price target on the stock. Canaccord Genuity Group decreased their price target on shares of Freshworks from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Barclays decreased their price target on shares of Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.86.

Insider Activity at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.54, for a total value of $97,316.82. Following the completion of the transaction, the director now directly owns 22,530 shares in the company, valued at approximately $259,996.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $11.22, for a total transaction of $70,719.66. Following the sale, the director now directly owns 223,106 shares in the company, valued at $2,503,249.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.54, for a total value of $97,316.82. Following the completion of the sale, the director now directly owns 22,530 shares in the company, valued at approximately $259,996.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,803 shares of company stock worth $435,884 over the last quarter. Corporate insiders own 19.15% of the company’s stock.

Freshworks Stock Performance

Shares of Freshworks stock opened at $12.05 on Friday. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $24.98. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of -34.48 and a beta of 0.73. The company’s 50 day moving average price is $11.41 and its 200-day moving average price is $12.77.

Freshworks (NASDAQ:FRSH) last issued its earnings results on Tuesday, July 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Freshworks had a negative net margin of 15.72% and a negative return on equity of 9.08%. The firm had revenue of $174.13 million for the quarter, compared to analysts’ expectations of $169.05 million. During the same quarter last year, the business earned ($0.12) earnings per share. The business’s revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts forecast that Freshworks Inc. will post -0.38 earnings per share for the current fiscal year.

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.