Canada Pension Plan Investment Board Acquires 258,300 Shares of Freshworks Inc. (NASDAQ:FRSH)

Canada Pension Plan Investment Board increased its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 273.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 352,900 shares of the company's stock after buying an additional 258,300 shares during the period. Canada Pension Plan Investment Board owned about 0.12% of Freshworks worth $5,706,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its stake in Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after acquiring an additional 954 shares during the period. Versor Investments LP lifted its holdings in shares of Freshworks by 3.0% in the 4th quarter. Versor Investments LP now owns 34,400 shares of the company's stock worth $556,000 after purchasing an additional 1,000 shares during the last quarter. Covestor Ltd boosted its position in Freshworks by 30.2% during the 4th quarter. Covestor Ltd now owns 4,686 shares of the company's stock valued at $76,000 after purchasing an additional 1,087 shares during the period. Arizona State Retirement System grew its holdings in Freshworks by 2.2% in the 4th quarter. Arizona State Retirement System now owns 51,704 shares of the company's stock worth $836,000 after buying an additional 1,103 shares in the last quarter. Finally, Xponance Inc. raised its stake in Freshworks by 10.2% during the 4th quarter. Xponance Inc. now owns 14,847 shares of the company's stock valued at $240,000 after acquiring an additional 1,369 shares in the last quarter. Institutional investors own 75.58% of the company's stock.

Insider Activity at Freshworks

In other news, Director Zachary Nelson sold 8,442 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.30, for a total transaction of $154,488.60. Following the transaction, the director now owns 24,187 shares in the company, valued at approximately $442,622.10. This trade represents a 25.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Johanna Flower sold 1,450 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $18.01, for a total value of $26,114.50. Following the completion of the sale, the director now directly owns 41,491 shares of the company's stock, valued at $747,252.91. This represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,177 shares of company stock valued at $498,042. 19.15% of the stock is currently owned by corporate insiders.

Freshworks Trading Up 3.2 %

NASDAQ FRSH traded up $0.43 during trading on Friday, reaching $14.07. 3,120,803 shares of the company's stock were exchanged, compared to its average volume of 3,339,470. The company's fifty day simple moving average is $14.65 and its 200-day simple moving average is $15.35. The firm has a market capitalization of $4.24 billion, a PE ratio of -43.97 and a beta of 0.98. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77.

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 return on equity of 6.63% and a negative net margin of 13.24%. Equities analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley lowered their price target on Freshworks from $21.00 to $14.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Oppenheimer lowered their price objective on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. JMP Securities set a $27.00 target price on Freshworks in a report on Wednesday, February 12th. StockNews.com raised Freshworks from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of Freshworks in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Freshworks currently has a consensus rating of "Moderate Buy" and an average price target of $19.64.

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.