Cornercap Investment Counsel Inc. Takes Position in Freshworks Inc. (NASDAQ:FRSH)

Cornercap Investment Counsel Inc. purchased a new stake in Freshworks Inc. (NASDAQ:FRSH) during the third quarter, HoldingsChannel.com reports. The firm purchased 21,812 shares of the company’s stock, valued at approximately $250,000.

Other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP grew its position in shares of Freshworks by 89.4% in the third quarter. GSA Capital Partners LLP now owns 97,910 shares of the company’s stock valued at $1,124,000 after purchasing an additional 46,204 shares during the last quarter. Versor Investments LP bought a new position in Freshworks during the 3rd quarter worth $383,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Freshworks by 19.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 163,392 shares of the company’s stock worth $1,876,000 after buying an additional 27,139 shares in the last quarter. Covestor Ltd increased its position in Freshworks by 89.9% during the third quarter. Covestor Ltd now owns 3,599 shares of the company’s stock worth $41,000 after acquiring an additional 1,704 shares during the period. Finally, Olympiad Research LP raised its stake in Freshworks by 95.7% in the 3rd quarter. Olympiad Research LP now owns 41,855 shares of the company’s stock worth $480,000 after purchasing an additional 20,468 shares in the last quarter. 75.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FRSH has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Freshworks from $11.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Canaccord Genuity Group upped their target price on Freshworks from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group reduced their price objective on Freshworks from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Scotiabank dropped their target price on shares of Freshworks from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price 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. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.

Freshworks Price Performance

NASDAQ:FRSH opened at $15.01 on Tuesday. The company has a market capitalization of $4.53 billion, a P/E ratio of -44.15 and a beta of 0.72. The business has a fifty day simple moving average of $12.13 and a two-hundred day simple moving average of $12.46. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $24.98.

Insider Activity at Freshworks

In related news, Director Zachary Nelson sold 8,442 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $93,199.68. Following the completion of the sale, the director now owns 23,497 shares in the company, valued at $259,406.88. The trade was a 26.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $11.17, for a total value of $52,331.45. Following the transaction, the director now owns 35,853 shares in the company, valued at approximately $400,478.01. The trade was a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,463 shares of company stock worth $406,714. Corporate insiders own 19.15% of the company’s stock.

About Freshworks

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.