UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Freshworks Inc. (NASDAQ:FRSH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 19.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,676 shares of the company's stock after buying an additional 60,652 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.12% of Freshworks worth $5,994,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Barclays PLC boosted its stake in shares of Freshworks by 33.4% in the third quarter. Barclays PLC now owns 337,621 shares of the company's stock worth $3,875,000 after acquiring an additional 84,568 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after acquiring an additional 954 shares during the last quarter. KBC Group NV boosted its stake in shares of Freshworks by 59.1% in 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 last quarter. Sapient Capital LLC boosted its stake in shares of Freshworks by 48.1% in 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 last quarter. Finally, Avion Wealth acquired a new stake in shares of Freshworks in the fourth quarter worth approximately $26,000. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Freshworks 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 now owns 24,890 shares in the company, valued at $365,634.10. This represents a 25.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.41, for a total value of $72,195.85. Following the sale, the director now owns 37,895 shares in the company, valued at approximately $583,961.95. This trade represents a 11.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,483 shares of company stock worth $480,056 in the last quarter. 11.17% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on FRSH. Piper Sandler reissued an "overweight" rating and set a $22.00 price objective (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Wall Street Zen raised Freshworks from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Robert W. Baird set a $18.00 price objective on Freshworks in a research note on Wednesday, February 12th. Morgan Stanley boosted their price objective on Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Finally, Oppenheimer lowered their price objective on Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.07.

Freshworks Price Performance

Shares of FRSH stock traded up $0.08 on Friday, hitting $15.69. The stock had a trading volume of 392,511 shares, compared to its average volume of 3,263,036. The firm has a market capitalization of $4.63 billion, a P/E ratio of -49.02 and a beta of 0.97. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The company's 50 day moving average price is $14.06 and its 200-day moving average price is $15.69.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings results 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. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. The company had revenue of $196.27 million for the quarter, compared to the consensus estimate of $191.90 million. During the same quarter in the prior year, the business earned $0.10 EPS. Freshworks's revenue was up 18.9% on a year-over-year basis. On average, equities analysts forecast 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.