Freshworks Inc. (NASDAQ:FRSH) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC grew its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 40.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,030 shares of the company's stock after acquiring an additional 34,387 shares during the period. Lazard Asset Management LLC's holdings in Freshworks were worth $1,922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in FRSH. Avion Wealth bought a new stake in shares of Freshworks in the fourth quarter worth about $26,000. Blue Trust Inc. increased its holdings 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 purchasing an additional 954 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Freshworks by 1,385.8% in 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 increased its holdings in shares of Freshworks by 102.4% in 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 increased 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 worth $76,000 after purchasing an additional 1,087 shares during the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Freshworks Price Performance

Shares of NASDAQ:FRSH traded down $0.21 during trading hours on Friday, hitting $14.42. 2,877,185 shares of the company's stock traded hands, compared to its average volume of 3,295,022. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77. The business has a fifty day moving average price of $14.10 and a 200-day moving average price of $15.74. The firm has a market capitalization of $4.25 billion, a P/E ratio of -45.06 and a beta of 0.97.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The firm had revenue of $196.27 million during the quarter, compared to analyst estimates of $191.90 million. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. Freshworks's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, equities analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays lifted their target price on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Robert W. Baird set a $18.00 target price on Freshworks in a report on Wednesday, February 12th. Needham & Company LLC reissued a "buy" rating and set a $25.00 price objective on shares of Freshworks in a research note on Monday, March 17th. Jefferies Financial Group reduced their price objective on Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, Canaccord Genuity Group boosted their price objective on Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Freshworks presently has an average rating of "Moderate Buy" and an average target price of $20.21.

Insider Activity at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $16.72, for a total transaction of $140,999.76. Following the completion of the sale, the director now owns 24,187 shares in the company, valued at $404,406.64. This represents a 25.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $583,961.95. This represents a 11.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,421 shares of company stock worth $603,164. Company insiders own 11.17% of the company's stock.

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.