Freshworks Inc. (NASDAQ:FRSH) Shares Acquired by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC boosted its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 65.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 234,500 shares of the company's stock after buying an additional 92,900 shares during the period. Lisanti Capital Growth LLC owned approximately 0.08% of Freshworks worth $3,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FRSH. Allspring Global Investments Holdings LLC increased its position in Freshworks by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,566 shares of the company's stock valued at $276,000 after acquiring an additional 6,862 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Freshworks during the 1st quarter worth about $615,000. Oppenheimer & Co. Inc. bought a new position in Freshworks during the 1st quarter valued at about $168,000. FNY Investment Advisers LLC bought a new position in Freshworks during the 1st quarter valued at about $70,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Freshworks by 128.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 26,878 shares of the company's stock worth $379,000 after purchasing an additional 15,092 shares during the period. Hedge funds and other institutional investors own 75.58% of the company's stock.

Insiders Place Their Bets

In related news, insider Mika Yamamoto sold 3,574 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $15.13, for a total transaction of $54,074.62. Following the transaction, the insider directly owned 576,541 shares of the company's stock, valued at $8,723,065.33. This represents a 0.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Roxanne S. Austin sold 6,303 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $14.75, for a total value of $92,969.25. Following the completion of the sale, the director directly owned 169,586 shares of the company's stock, valued at approximately $2,501,393.50. This represents a 3.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,767 shares of company stock valued at $2,603,975. 11.17% of the stock is currently owned by company insiders.

Freshworks Stock Performance

Freshworks stock traded down $0.43 during mid-day trading on Wednesday, reaching $14.75. 2,406,406 shares of the company were exchanged, compared to its average volume of 3,285,750. The firm has a market cap of $4.35 billion, a P/E ratio of -61.46 and a beta of 0.95. The business has a fifty day moving average of $14.92 and a 200 day moving average of $15.55. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. Freshworks had a negative return on equity of 4.41% and a negative net margin of 9.76%. The company had revenue of $196.27 million for the quarter, compared to the consensus estimate of $191.90 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. Sell-side analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

Analyst Ratings Changes

FRSH has been the subject of several recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $25.00 target price on shares of Freshworks in a research report on Monday, March 17th. Scotiabank boosted their price objective on Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Cantor Fitzgerald upgraded Freshworks to an "overweight" rating and set a $20.00 target price on the stock in a research note on Tuesday, June 3rd. Morgan Stanley boosted their target price on shares of Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Finally, Jefferies Financial Group reduced 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 analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Freshworks currently has an average rating of "Moderate Buy" and a consensus price target of $20.07.

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.