Headlands Technologies LLC Invests $1.40 Million in Freshworks Inc. (NASDAQ:FRSH)

Headlands Technologies LLC purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSH) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 86,669 shares of the company’s stock, valued at approximately $1,401,000.

Other large investors also recently bought and sold shares of the company. Avion Wealth purchased a new position in shares of Freshworks during the 4th quarter valued at approximately $26,000. Blue Trust Inc. grew its position in Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after buying an additional 954 shares during the period. National Bank of Canada FI raised its position in shares of Freshworks by 1,385.8% in the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock worth $64,000 after acquiring an additional 3,700 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Freshworks by 102.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock worth $71,000 after acquiring an additional 2,223 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Freshworks during the 3rd quarter worth about $57,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FRSH shares. Barclays upped their price target on Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Canaccord Genuity Group increased their target price on Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price target on shares of Freshworks from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Cantor Fitzgerald increased their price objective on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Robert W. Baird set a $18.00 target price on shares of Freshworks in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Freshworks presently has an average rating of “Moderate Buy” and an average price target of $21.14.

Freshworks Stock Up 1.6 %

Shares of FRSH opened at $14.33 on Wednesday. The stock has a fifty day simple moving average of $16.79 and a two-hundred day simple moving average of $15.15. The company has a market capitalization of $4.32 billion, a PE ratio of -44.78 and a beta of 0.92. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77.

Freshworks (NASDAQ:FRSH) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. As a group, equities analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 4,685 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $15.49, for a total value of $72,570.65. Following the sale, the director now owns 37,286 shares of the company’s stock, valued at $577,560.14. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Johanna Flower sold 21,400 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $18.00, for a total value of $385,200.00. Following the transaction, the director now directly owns 41,491 shares in the company, valued at approximately $746,838. The trade was a 34.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,980 shares of company stock worth $1,084,011 over the last three months. 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.