82,307 Shares in Freshworks Inc. (NASDAQ:FRSH) Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP purchased a new stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 82,307 shares of the company's stock, valued at approximately $1,331,000.

A number of other institutional investors also recently modified their holdings of FRSH. Vanguard Group Inc. raised its holdings in Freshworks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company's stock valued at $405,283,000 after acquiring an additional 1,357,526 shares during the period. Geode Capital Management LLC lifted its holdings in Freshworks by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,673,600 shares of the company's stock worth $75,588,000 after purchasing an additional 79,388 shares in the last quarter. Franklin Resources Inc. boosted its stake in Freshworks by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company's stock worth $44,934,000 after purchasing an additional 604,658 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Freshworks during the 4th quarter valued at about $61,530,000. Finally, Norges Bank bought a new stake in shares of Freshworks during the fourth quarter valued at about $57,527,000. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Freshworks news, insider Mika Yamamoto sold 3,574 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $14.66, for a total value of $52,394.84. Following the completion of the sale, the insider now owns 608,030 shares in the company, valued at approximately $8,913,719.80. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Johanna Flower sold 1,450 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $18.01, for a total value of $26,114.50. Following the transaction, the director now directly owns 41,491 shares in the company, valued at $747,252.91. This trade represents a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,883 shares of company stock valued at $464,113 in the last quarter. Insiders own 19.15% of the company's stock.

Freshworks Stock Down 1.2 %

Shares of NASDAQ FRSH traded down $0.17 during midday trading on Friday, reaching $14.56. The company had a trading volume of 2,105,986 shares, compared to its average volume of 3,276,433. The stock has a market cap of $4.30 billion, a PE ratio of -45.50 and a beta of 0.97. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The firm's fifty day moving average price is $14.12 and its 200-day moving average price is $15.54.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business's revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts expect that Freshworks Inc. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FRSH shares. Oppenheimer reduced their price objective on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. UBS Group reduced their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. StockNews.com upgraded Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. JMP Securities restated a "market outperform" rating and set a $27.00 target price on shares of Freshworks in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group upped their target price on Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating 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 nine have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.21.

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.