Crestline Management LP Makes New $1 Million Investment in Freshworks Inc. (NASDAQ:FRSH)

Crestline Management LP bought a new position in Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 62,086 shares of the company's stock, valued at approximately $1,004,000.

Several other institutional investors and hedge funds have also bought and sold shares of FRSH. Barclays PLC raised its stake in shares of Freshworks by 33.4% in the third quarter. Barclays PLC now owns 337,621 shares of the company's stock worth $3,875,000 after buying an additional 84,568 shares during the period. Tidal Investments LLC bought a new position in shares of Freshworks in the third quarter worth about $534,000. Franklin Resources Inc. raised its stake in shares of Freshworks by 18.1% in the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company's stock worth $44,934,000 after buying an additional 604,658 shares during the period. Everence Capital Management Inc. bought a new position in shares of Freshworks in the fourth quarter worth about $190,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Freshworks by 102.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock worth $71,000 after buying an additional 2,223 shares during the period. 75.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Freshworks

In other news, Director Roxanne S. Austin sold 6,303 shares of Freshworks stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $14.75, for a total value of $92,969.25. Following the completion of the transaction, the director now owns 169,586 shares in the company, valued at approximately $2,501,393.50. The trade was a 3.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction that occurred on 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 transaction, the insider now owns 611,604 shares of the company's stock, valued at approximately $8,684,776.80. This trade represents a 0.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,871 shares of company stock worth $629,278. 19.15% of the stock is currently owned by company insiders.

Freshworks Stock Performance

NASDAQ:FRSH traded down $0.21 during trading hours on Wednesday, reaching $15.77. The stock had a trading volume of 958,900 shares, compared to its average volume of 3,272,683. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The company has a 50 day moving average price of $14.10 and a two-hundred day moving average price of $15.59. The stock has a market capitalization of $4.65 billion, a PE ratio of -49.28 and a beta of 0.97.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on FRSH. UBS Group decreased their price objective on Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Oppenheimer decreased their price objective on Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler reissued an "overweight" rating and set a $22.00 target price (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Morgan Stanley lifted their target price on Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Finally, Jefferies Financial Group decreased their target price on Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.21.

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.