Freshworks Inc. (NASDAQ:FRSH) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,247,217 shares of the company's stock after selling 24,946 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.74% of Freshworks worth $36,336,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership purchased a new stake in Freshworks during the fourth quarter worth $61,530,000. Norges Bank bought a new position in shares of Freshworks in the 4th quarter worth $57,527,000. Vanguard Group Inc. lifted its stake in shares of Freshworks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 25,063,879 shares of the company's stock worth $405,283,000 after purchasing an additional 1,357,526 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Freshworks during the fourth quarter valued at about $20,666,000. Finally, Artisan Partners Limited Partnership purchased a new position in Freshworks in the fourth quarter valued at about $16,000,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Stock Down 1.2 %

Shares of NASDAQ FRSH traded down $0.17 during midday trading on Friday, reaching $14.56. 2,105,986 shares of the stock were exchanged, compared to its average volume of 3,276,433. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of -45.50 and a beta of 0.97. The firm has a 50-day simple moving average of $14.12 and a two-hundred day simple moving average of $15.54. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last released 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. The company had revenue of $196.27 million for the quarter, compared to analyst estimates of $191.90 million. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The firm's revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. Research analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Insider Activity at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 2,859 shares of the 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 transaction, the insider now directly owns 615,893 shares of the company's stock, valued at $10,310,048.82. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Johanna Flower sold 1,450 shares of Freshworks stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $18.01, for a total transaction of $26,114.50. Following the completion of the sale, the director now owns 41,491 shares in the company, valued at approximately $747,252.91. This trade represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,883 shares of company stock worth $464,113 in the last 90 days. Corporate insiders own 19.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FRSH. UBS Group lowered their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $22.00 price target (up from $20.00) on shares of Freshworks in a research report on Wednesday, April 30th. Oppenheimer lowered their price objective on Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company increased their price target on Freshworks from $11.00 to $12.00 and gave the company an "underweight" rating in a research note on Wednesday, April 30th. Finally, Needham & Company LLC restated a "buy" rating and set a $25.00 price target on shares of Freshworks in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.21.

About Freshworks

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.