43,477 Shares in Freshworks Inc. (NASDAQ:FRSH) Acquired by LPL Financial LLC

LPL Financial LLC bought a new stake in 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 firm bought 43,477 shares of the company's stock, valued at approximately $703,000.

Several other hedge funds have also recently added to or reduced their stakes in FRSH. Avion Wealth acquired a new stake in Freshworks in the fourth quarter valued at approximately $26,000. Blue Trust Inc. raised its holdings in Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after purchasing an additional 954 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock worth $71,000 after purchasing an additional 2,223 shares in the last quarter. KBC Group NV raised its holdings in Freshworks by 59.1% during the fourth quarter. KBC Group NV now owns 7,604 shares of the company's stock worth $123,000 after purchasing an additional 2,824 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Freshworks by 683.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,632 shares of the company's stock worth $156,000 after purchasing an additional 8,403 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

Wall Street Analysts Forecast Growth

FRSH has been the topic of a number of research analyst reports. Robert W. Baird set a $18.00 price objective on shares of Freshworks in a report on Wednesday, February 12th. Piper Sandler cut their price objective on shares of Freshworks from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on shares of Freshworks from $13.00 to $11.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley lowered their target price on shares of Freshworks from $21.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Barclays raised their target price on shares of Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. One investment 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.64.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.72, for a total value of $140,999.76. Following the completion of the transaction, the director now directly owns 24,187 shares of the company's stock, valued at approximately $404,406.64. This trade represents a 25.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mika Yamamoto sold 3,574 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $14.20, for a total transaction of $50,750.80. Following the completion of the transaction, the insider now directly owns 611,604 shares of the company's stock, valued at approximately $8,684,776.80. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,177 shares of company stock valued at $498,042. Corporate insiders own 19.15% of the company's stock.

Freshworks Price Performance

Shares of NASDAQ FRSH traded up $0.06 during trading on Monday, hitting $14.13. 4,088,258 shares of the company were exchanged, compared to its average volume of 3,342,466. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The company has a market cap of $4.26 billion, a price-to-earnings ratio of -44.16 and a beta of 0.98. The firm's fifty day moving average price is $14.58 and its 200 day moving average price is $15.36.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. On average, research analysts forecast that Freshworks Inc. will post -0.19 earnings per share 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.