Bridgefront Capital LLC Sells 25,099 Shares of Freshworks Inc. (NASDAQ:FRSH)

Bridgefront Capital LLC reduced its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 52.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,412 shares of the company's stock after selling 25,099 shares during the period. Bridgefront Capital LLC's holdings in Freshworks were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Avion Wealth bought a new stake in Freshworks in the fourth quarter valued at $26,000. Blue Trust Inc. boosted its stake in shares of Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after purchasing an additional 954 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Freshworks by 1,385.8% in the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock worth $64,000 after purchasing an additional 3,700 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Freshworks by 102.4% during the 4th 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. Finally, Covestor Ltd boosted its position in Freshworks by 30.2% in the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock valued at $76,000 after buying an additional 1,087 shares in the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on FRSH. JMP Securities restated a "market outperform" rating and issued a $27.00 price objective on shares of Freshworks in a research report on Wednesday, April 30th. Wells Fargo & Company lifted their price objective on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 target price on shares of Freshworks in a report on Monday, March 17th. Piper Sandler reiterated an "overweight" rating and issued a $22.00 price objective (up from $20.00) on shares of Freshworks in a research report on Wednesday, April 30th. Finally, Oppenheimer cut their price objective on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.21.

Insider Buying and Selling

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $16.72, for a total value of $140,999.76. Following the sale, the director now directly owns 24,187 shares in the company, valued at $404,406.64. The trade was a 25.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mika Yamamoto sold 3,574 shares of the stock in a transaction 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 transaction, the insider now owns 608,030 shares of the company's stock, valued at $8,913,719.80. The trade was a 0.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,883 shares of company stock worth $464,113 in the last quarter. Insiders own 19.15% of the company's stock.

Freshworks Stock Performance

Shares of NASDAQ:FRSH traded up $0.72 during midday trading on Monday, reaching $15.28. The company's stock had a trading volume of 689,411 shares, compared to its average volume of 3,266,347. The firm has a 50 day moving average price of $14.12 and a two-hundred day moving average price of $15.56. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of -47.73 and a beta of 0.97.

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

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.