Freshworks Inc. (NASDAQ:FRSH) Stake Raised by Sapient Capital LLC

Sapient Capital LLC boosted its holdings in Freshworks Inc. (NASDAQ:FRSH) by 48.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,221 shares of the company’s stock after acquiring an additional 6,895 shares during the quarter. Sapient Capital LLC’s holdings in Freshworks were worth $343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Freshworks by 49.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company’s stock worth $60,503,000 after buying an additional 1,752,995 shares during the period. State Street Corp raised its holdings in Freshworks by 7.1% during the 3rd quarter. State Street Corp now owns 4,729,093 shares of the company’s stock worth $54,290,000 after buying an additional 313,982 shares during the period. Geode Capital Management LLC raised its holdings in Freshworks by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company’s stock worth $52,750,000 after buying an additional 66,342 shares during the period. Franklin Resources Inc. raised its holdings in Freshworks by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company’s stock worth $44,934,000 after buying an additional 604,658 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Freshworks by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,556,772 shares of the company’s stock worth $17,872,000 after buying an additional 24,558 shares during the period. 75.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Freshworks news, Director Zachary Nelson sold 8,442 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the completion of the sale, the director now owns 24,187 shares of the company’s stock, valued at $442,622.10. This represents a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer H. Taylor sold 4,690 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $16.74, for a total value of $78,510.60. Following the transaction, the director now owns 36,689 shares of the company’s stock, valued at approximately $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. Insiders sold 1,727,211 shares of company stock valued at $27,224,746 over the last 90 days. 19.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FRSH has been the topic of several recent analyst reports. JMP Securities boosted their price objective on Freshworks from $21.00 to $24.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Oppenheimer upgraded Freshworks from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Thursday, January 16th. Robert W. Baird cut their price objective on Freshworks from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Freshworks in a research note on Wednesday, January 15th. Finally, Morgan Stanley lifted their target price on Freshworks from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Freshworks presently has an average rating of “Moderate Buy” and a consensus price target of $19.07.

Freshworks Stock Performance

Shares of NASDAQ FRSH opened at $17.86 on Wednesday. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of -52.53 and a beta of 0.91. The business has a 50 day simple moving average of $16.94 and a 200 day simple moving average of $14.05. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $22.14.

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

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.