35,026 Shares in Freshworks Inc. (NASDAQ:FRSH) Bought by PDT Partners LLC

PDT Partners LLC bought a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 35,026 shares of the company's stock, valued at approximately $566,000.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Freshworks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company's stock worth $405,283,000 after buying an additional 1,357,526 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Freshworks by 49.8% in the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company's stock worth $60,503,000 after purchasing an additional 1,752,995 shares during the last quarter. Geode Capital Management LLC grew its stake in Freshworks by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,673,600 shares of the company's stock valued at $75,588,000 after purchasing an additional 79,388 shares during the period. Franklin Resources Inc. increased its position in shares of Freshworks by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company's stock valued at $44,934,000 after purchasing an additional 604,658 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Freshworks during the 4th quarter worth $61,530,000. Institutional investors own 75.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FRSH. Robert W. Baird set a $18.00 price objective on shares of Freshworks in a report on Wednesday, February 12th. Barclays lifted their price target on shares of Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. JMP Securities reissued a "market outperform" rating and set a $27.00 price objective on shares of Freshworks in a report on Wednesday, April 30th. Canaccord Genuity Group boosted their target price on Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company increased their price target on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. One investment 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. Based on data from MarketBeat, Freshworks presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.21.

Freshworks Stock Performance

Freshworks stock traded down $0.20 during midday trading on Monday, reaching $14.50. 2,588,414 shares of the stock were exchanged, compared to its average volume of 3,289,579. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The firm has a market cap of $4.37 billion, a PE ratio of -45.31 and a beta of 0.98. The company's fifty day moving average is $14.35 and its 200-day moving average is $15.45.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.05. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. The company had revenue of $196.27 million for the quarter, compared to the consensus estimate of $191.90 million. During the same quarter last year, the business posted $0.10 earnings per share. The firm's revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Freshworks news, Director Johanna Flower sold 1,450 shares of Freshworks stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $26,114.50. Following the completion of the sale, the director now owns 41,491 shares of the company's stock, valued at $747,252.91. The trade was a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.74, for a total value of $47,859.66. Following the transaction, the insider now owns 615,893 shares in the company, valued at $10,310,048.82. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,883 shares of company stock worth $467,538. 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.