Diversified Trust Co Invests $615,000 in Freshworks Inc. (NASDAQ:FRSH)

Diversified Trust Co bought a new position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 43,584 shares of the company's stock, valued at approximately $615,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Versor Investments LP lifted its stake in Freshworks by 3.0% during the 4th quarter. Versor Investments LP now owns 34,400 shares of the company's stock valued at $556,000 after acquiring an additional 1,000 shares in the last quarter. Covestor Ltd raised its holdings in shares of Freshworks by 30.2% in the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock valued at $76,000 after purchasing an additional 1,087 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Freshworks by 2.2% in the fourth quarter. Arizona State Retirement System now owns 51,704 shares of the company's stock valued at $836,000 after purchasing an additional 1,103 shares during the last quarter. Xponance Inc. lifted its position in shares of Freshworks by 10.2% during the fourth quarter. Xponance Inc. now owns 14,847 shares of the company's stock valued at $240,000 after purchasing an additional 1,369 shares in the last quarter. Finally, Quarry LP boosted its holdings in Freshworks by 47.8% during the fourth quarter. Quarry LP now owns 5,410 shares of the company's stock worth $87,000 after purchasing an additional 1,750 shares during the last quarter. 75.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on FRSH. Oppenheimer decreased their price objective on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. JMP Securities reaffirmed a "market outperform" rating and set a $27.00 price target on shares of Freshworks in a research report on Wednesday, April 30th. Jefferies Financial Group dropped their price target on Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Piper Sandler restated an "overweight" rating and issued a $22.00 price objective (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald raised Freshworks to an "overweight" rating and set a $20.00 target price for the company in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.07.

Insider Buying and Selling

In other news, Director Zachary Nelson sold 8,433 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $14.69, for a total transaction of $123,880.77. Following the sale, the director directly owned 24,890 shares in the company, valued at $365,634.10. This represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Rathnagirish Mathrubootham sold 70,997 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $16.01, for a total transaction of $1,136,661.97. Following the completion of the sale, the chairman directly owned 724,515 shares in the company, valued at approximately $11,599,485.15. The trade was a 8.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,767 shares of company stock valued at $2,603,975 in the last 90 days. Corporate insiders own 11.17% of the company's stock.

Freshworks Price Performance

Shares of FRSH traded down $0.36 during trading hours on Wednesday, hitting $14.82. The company's stock had a trading volume of 929,164 shares, compared to its average volume of 3,280,158. The business has a 50 day simple moving average of $14.92 and a two-hundred day simple moving average of $15.55. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -61.73 and a beta of 0.95.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. Freshworks had a negative net margin of 9.76% and a negative return on equity of 4.41%. The company 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. Freshworks's revenue for the quarter was up 18.9% on a year-over-year basis. Research analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current year.

Freshworks Company 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.