Crestline Management LP Purchases New Shares in Freshworks Inc. (NASDAQ:FRSH)

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

A number of other hedge funds have also added to or reduced their stakes in the stock. Smith Group Asset Management LLC purchased a new position in shares of Freshworks in the 4th quarter worth approximately $589,000. Barclays PLC lifted its holdings in Freshworks by 33.4% during the third 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 period. Raymond James Financial Inc. purchased a new position in Freshworks in the fourth quarter worth $20,666,000. Lisanti Capital Growth LLC bought a new position in Freshworks in the 4th quarter valued at $2,290,000. Finally, Ceera Investments LLC increased its position in shares of 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 purchasing an additional 421,975 shares during the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

Insider Transactions at Freshworks

In related news, insider Mika Yamamoto sold 2,859 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $16.74, for a total transaction of $47,859.66. Following the completion of the sale, the insider now directly owns 615,893 shares in the company, valued at $10,310,048.82. This represents a 0.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Zachary Nelson sold 8,433 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.72, for a total transaction of $140,999.76. Following the transaction, the director now directly owns 24,187 shares of the company's stock, valued at approximately $404,406.64. This trade represents a 25.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,883 shares of company stock valued at $464,113. Insiders own 19.15% of the company's stock.

Freshworks Stock Down 1.2%

NASDAQ:FRSH traded down $0.17 during mid-day trading on Friday, hitting $14.56. 2,105,986 shares of the stock traded hands, compared to its average volume of 3,276,433. The business's 50-day moving average price is $14.12 and its 200 day moving average price is $15.56. The company has a market cap of $4.30 billion, a PE ratio of -45.50 and a beta of 0.97. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly 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 net margin of 13.24% and a negative return on equity of 6.63%. The firm 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 firm earned $0.10 EPS. The business's quarterly revenue was up 18.9% compared to the same quarter last year. Analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Robert W. Baird set a $18.00 price target on shares of Freshworks in a report on Wednesday, February 12th. UBS Group lowered their price objective on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. JMP Securities reissued a "market outperform" rating and set a $27.00 target price on shares of Freshworks in a research report on Wednesday, April 30th. 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 report on Wednesday, February 12th. Finally, Jefferies Financial Group reduced their price objective on Freshworks from $22.00 to $20.00 and set a "hold" rating for the company in a report on Monday, March 31st. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.21.

Freshworks 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.