Bessemer Group Inc. Decreases Holdings in Freshworks Inc. (NASDAQ:FRSH)

Bessemer Group Inc. lowered its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 83.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,793 shares of the company's stock after selling 38,310 shares during the period. Bessemer Group Inc.'s holdings in Freshworks were worth $126,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Smith Group Asset Management LLC purchased a new position in shares of Freshworks in the 4th quarter valued at about $589,000. Barclays PLC increased its position in shares of Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company's stock valued at $3,875,000 after purchasing an additional 84,568 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Freshworks in the 4th quarter valued at $20,666,000. Geode Capital Management LLC lifted its position in shares of Freshworks by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,594,212 shares of the company's stock worth $52,750,000 after purchasing an additional 66,342 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Freshworks during the fourth quarter worth $2,290,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Freshworks Price Performance

Shares of FRSH stock traded up $0.14 during midday trading on Tuesday, hitting $12.21. The company had a trading volume of 3,049,410 shares, compared to its average volume of 3,321,499. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The company's 50 day simple moving average is $14.88 and its 200 day simple moving average is $15.27. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -38.16 and a beta of 0.98.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) 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%. Analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

Insider Buying and Selling

In other Freshworks news, Director Johanna Flower sold 21,400 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $18.00, for a total value of $385,200.00. Following the completion of the sale, the director now owns 41,491 shares of the company's stock, valued at approximately $746,838. This trade represents a 34.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mika Yamamoto sold 3,574 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $14.20, for a total transaction of $50,750.80. Following the sale, the insider now owns 611,604 shares in the company, valued at $8,684,776.80. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,577 shares of company stock valued at $883,242 over the last ninety days. Corporate insiders own 19.15% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on FRSH shares. JMP Securities set a $27.00 price target on Freshworks in a report on Wednesday, February 12th. Oppenheimer decreased their target price on Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Scotiabank increased their price target on shares of Freshworks from $17.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Robert W. Baird set a $18.00 price objective on shares of Freshworks in a research report on Wednesday, February 12th. Finally, UBS Group set a $22.00 target price on shares of Freshworks in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.29.

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.