PharVision Advisers LLC Invests $370,000 in Freshworks Inc. (NASDAQ:FRSH)

PharVision Advisers LLC bought a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 22,910 shares of the company's stock, valued at approximately $370,000.

Several other institutional investors have also bought and sold shares of FRSH. Avion Wealth purchased a new position in Freshworks during the 4th quarter worth $26,000. Blue Trust Inc. lifted its position in shares of Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after purchasing an additional 954 shares in the last quarter. National Bank of Canada FI boosted its holdings in Freshworks by 1,385.8% during the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock worth $64,000 after purchasing an additional 3,700 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock worth $71,000 after purchasing an additional 2,223 shares during the last quarter. Finally, Covestor Ltd grew its position in Freshworks by 30.2% in the 4th quarter. Covestor Ltd now owns 4,686 shares of the company's stock worth $76,000 after purchasing an additional 1,087 shares in the last quarter. Institutional investors own 75.58% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group dropped their target price 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. Cantor Fitzgerald lifted their price target on Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 target price on shares of Freshworks in a research report on Monday, March 17th. Finally, Piper Sandler reiterated an "overweight" rating and set a $22.00 target price (up from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. 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 company. According to MarketBeat, Freshworks has a consensus rating of "Moderate Buy" and a consensus price target of $20.21.

Insiders Place Their Bets

In related news, insider Mika Yamamoto sold 3,574 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $14.20, for a total transaction of $50,750.80. Following the sale, the insider now owns 611,604 shares of the company's stock, valued at approximately $8,684,776.80. This represents a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $14.69, for a total transaction of $123,880.77. Following the completion of the transaction, the director now directly owns 24,890 shares of the company's stock, valued at approximately $365,634.10. The trade was a 25.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,421 shares of company stock worth $603,164 in the last quarter. 11.17% of the stock is owned by company insiders.

Freshworks Price Performance

NASDAQ:FRSH traded down $0.21 on Monday, reaching $14.42. 2,877,185 shares of the company's stock were exchanged, compared to its average volume of 3,298,286. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -45.06 and a beta of 0.97. The stock has a fifty day simple moving average of $14.10 and a 200-day simple moving average of $15.75. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) 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 the consensus estimate of $191.90 million. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 earnings per share. As a group, sell-side analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

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.