Freshworks Inc. (NASDAQ:FRSH) Shares Acquired by Sapient Capital LLC

Sapient Capital LLC increased its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 42.9% in the third quarter, Holdings Channel reports. The firm owned 14,326 shares of the company’s stock after acquiring an additional 4,303 shares during the period. Sapient Capital LLC’s holdings in Freshworks were worth $164,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of Freshworks by 34.2% during the first quarter. Advisors Asset Management Inc. now owns 2,971 shares of the company’s stock worth $54,000 after purchasing an additional 757 shares in the last quarter. CWM LLC raised its holdings in shares of Freshworks by 554.5% during the 2nd quarter. CWM LLC now owns 3,397 shares of the company’s stock valued at $43,000 after buying an additional 2,878 shares during the period. Quarry LP lifted its position in Freshworks by 157.6% during the 2nd quarter. Quarry LP now owns 4,323 shares of the company’s stock worth $55,000 after acquiring an additional 2,645 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Freshworks in the 1st quarter worth approximately $82,000. Finally, International Assets Investment Management LLC acquired 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 and hedge funds.

Insider Activity at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,690 shares of Freshworks stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $11.06, for a total transaction of $51,871.40. Following the sale, the director now owns 36,689 shares of the company’s stock, valued at $405,780.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Zachary Nelson sold 8,442 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $11.04, for a total value of $93,199.68. Following the completion of the transaction, the director now directly owns 23,497 shares in the company, valued at $259,406.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jennifer H. Taylor sold 4,690 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $11.06, for a total value of $51,871.40. Following the sale, the director now directly owns 36,689 shares in the company, valued at approximately $405,780.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,245 shares of company stock worth $533,811 in the last three months. 19.15% of the stock is owned by company insiders.

Freshworks Price Performance

Shares of FRSH opened at $11.51 on Wednesday. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $24.98. The business’s fifty day moving average price is $11.39 and its 200 day moving average price is $13.30. The stock has a market capitalization of $3.44 billion, a PE ratio of -28.78 and a beta of 0.73.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Freshworks from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. Cantor Fitzgerald decreased their price objective on shares of Freshworks from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Barclays dropped their target price on Freshworks from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group reduced their price target on Freshworks from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of Freshworks in a research note on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.38.

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.