22,652 Shares in Freshworks Inc. (NASDAQ:FRSH) Acquired by MRA Advisory Group

MRA Advisory Group acquired a new position in Freshworks Inc. (NASDAQ:FRSH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 22,652 shares of the company's stock, valued at approximately $320,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Barclays PLC grew its position in Freshworks by 33.4% during the 3rd quarter. Barclays PLC now owns 337,621 shares of the company's stock worth $3,875,000 after purchasing an additional 84,568 shares during the period. Blue Trust Inc. grew its position in Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after purchasing an additional 954 shares during the period. KBC Group NV grew its holdings in Freshworks by 59.1% during the fourth quarter. KBC Group NV now owns 7,604 shares of the company's stock worth $123,000 after acquiring an additional 2,824 shares during the period. Sapient Capital LLC grew its holdings in Freshworks by 48.1% during the fourth quarter. Sapient Capital LLC now owns 21,221 shares of the company's stock worth $343,000 after acquiring an additional 6,895 shares during the period. Finally, Avion Wealth acquired a new stake in Freshworks during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 75.58% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays raised their price target on shares of Freshworks from $14.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Robert W. Baird set a $18.00 price objective on Freshworks in a report on Wednesday, February 12th. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of Freshworks in a report on Monday, March 17th. Cantor Fitzgerald raised shares of Freshworks to an "overweight" rating and set a $20.00 price target on the stock in a research note on Tuesday. Finally, Jefferies Financial Group dropped their price target on shares of 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.07.

Insider Activity

In other Freshworks news, insider Mika Yamamoto sold 3,574 shares of the firm's stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.41, for a total transaction of $72,195.85. Following the sale, the director now owns 37,895 shares in the company, valued at $583,961.95. This represents a 11.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,483 shares of company stock worth $480,056. Corporate insiders own 11.17% of the company's stock.

Freshworks Price Performance

Shares of Freshworks stock opened at $15.61 on Friday. The stock's 50 day simple moving average is $14.06 and its 200-day simple moving average is $15.69. The stock has a market cap of $4.61 billion, a P/E ratio of -48.78 and a beta of 0.97. Freshworks Inc. has a 1-year low of $10.81 and a 1-year 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 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 analyst estimates of $191.90 million. During the same quarter in the prior year, the company posted $0.10 EPS. The company's quarterly revenue was up 18.9% on a year-over-year basis. As a group, research analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

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.

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