Caption Management LLC Takes Position in Freshworks Inc. (NASDAQ:FRSH)

Caption Management LLC acquired a new position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 74,500 shares of the company's stock, valued at approximately $1,205,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FRSH. Smith Group Asset Management LLC purchased a new position in Freshworks in the fourth quarter worth about $589,000. Barclays PLC lifted its holdings in shares of Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company's stock worth $3,875,000 after acquiring an additional 84,568 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Freshworks in the 4th quarter worth about $20,666,000. Lisanti Capital Growth LLC bought a new stake in shares of Freshworks in the 4th quarter worth about $2,290,000. Finally, Ceera Investments LLC lifted its holdings in Freshworks by 1,261.7% during the 4th quarter. Ceera Investments LLC now owns 455,420 shares of the company's stock valued at $7,364,000 after buying an additional 421,975 shares in the last quarter. Institutional investors own 75.58% of the company's stock.

Freshworks Stock Performance

Shares of FRSH traded up $0.67 during mid-day trading on Monday, reaching $15.23. 807,157 shares of the company were exchanged, compared to its average volume of 3,266,900. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The business has a 50 day simple moving average of $14.12 and a two-hundred day simple moving average of $15.56. The stock has a market capitalization of $4.49 billion, a PE ratio of -47.76 and a beta of 0.97.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.05. The business had revenue of $196.27 million for the quarter, compared to analyst estimates of $191.90 million. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Freshworks's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. On average, analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on FRSH shares. Robert W. Baird set a $18.00 target price on shares of Freshworks in a research report on Wednesday, February 12th. UBS Group reduced their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Barclays lifted their price target on shares of Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Morgan Stanley upped their price target on shares of Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Finally, StockNews.com raised shares of Freshworks from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.21.

Insider Buying and Selling

In related news, Director Johanna Flower sold 1,450 shares of Freshworks stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $26,114.50. Following the transaction, the director now directly owns 41,491 shares in the company, valued at approximately $747,252.91. The trade was a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $14.20, for a total value of $50,750.80. Following the completion of the sale, the insider now directly owns 611,604 shares in the company, valued at $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. Insiders sold a total of 29,883 shares of company stock worth $464,113 over the last ninety days. 19.15% of the stock is owned by corporate insiders.

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.