EP Wealth Advisors LLC Buys Shares of 16,706 Freshworks Inc. (NASDAQ:FRSH)

EP Wealth Advisors LLC purchased a new position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,706 shares of the company's stock, valued at approximately $270,000.

Several other hedge funds also recently made changes to their positions in the business. Eminence Capital LP bought a new position in shares of Freshworks during the 4th quarter worth approximately $86,002,000. Crestline Management LP acquired a new stake in shares of Freshworks in the 4th quarter valued at approximately $1,004,000. Caption Management LLC acquired a new stake in shares of Freshworks in the 4th quarter valued at approximately $1,205,000. Cetera Investment Advisers acquired a new stake in shares of Freshworks in the 4th quarter valued at approximately $190,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Freshworks in the 4th quarter valued at approximately $233,000. 75.58% of the stock is owned by institutional investors.

Freshworks Trading Up 0.1%

FRSH stock traded up $0.01 during trading hours on Friday, hitting $15.49. 1,861,211 shares of the stock were exchanged, compared to its average volume of 3,277,963. The firm has a market capitalization of $4.57 billion, a P/E ratio of -48.41 and a beta of 0.97. The company has a 50-day simple moving average of $14.12 and a two-hundred day simple moving average of $15.65. 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 posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $196.27 million for the quarter, compared to analysts' expectations of $191.90 million. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. The company's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. On average, equities research analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Roxanne S. Austin sold 6,303 shares of the firm's stock in a transaction 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 transaction, the director now owns 169,586 shares in the company, valued at approximately $2,501,393.50. This trade represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Johanna Flower sold 1,450 shares of the firm's stock in a transaction on 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 transaction, the director now owns 41,491 shares in the company, valued at $747,252.91. The trade was a 3.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,871 shares of company stock worth $629,278. Company insiders own 19.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FRSH. Oppenheimer cut their price objective on Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Piper Sandler reissued an "overweight" rating and issued a $22.00 price objective (up previously from $20.00) on shares of Freshworks in a report on Wednesday, April 30th. UBS Group cut their price objective on Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Scotiabank increased their price objective on Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley raised their price target on Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.