Mackenzie Financial Corp Has $727,000 Stake in Freshworks Inc. (NASDAQ:FRSH)

Mackenzie Financial Corp increased its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 291.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 51,521 shares of the company's stock after purchasing an additional 38,373 shares during the period. Mackenzie Financial Corp's holdings in Freshworks were worth $727,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its stake in Freshworks by 1,385.8% in the 4th 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 period. Covestor Ltd boosted its stake 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 during the period. FNY Investment Advisers LLC purchased a new stake in Freshworks in the 1st quarter worth approximately $70,000. Quarry LP boosted its stake in shares of Freshworks by 47.8% during the 4th quarter. Quarry LP now owns 5,410 shares of the company's stock valued at $87,000 after buying an additional 1,750 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Freshworks by 91.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,899 shares of the company's stock valued at $84,000 after acquiring an additional 2,814 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

Insider Transactions at Freshworks

In other news, Chairman Rathnagirish Mathrubootham sold 70,997 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $16.01, for a total transaction of $1,136,661.97. Following the transaction, the chairman owned 724,515 shares in the company, valued at approximately $11,599,485.15. The trade was a 8.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jennifer H. Taylor sold 7,558 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $15.13, for a total transaction of $114,352.54. Following the transaction, the director owned 44,218 shares in the company, valued at approximately $669,018.34. The trade was a 14.60% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,789 shares of company stock worth $3,207,515. Corporate insiders own 11.17% of the company's stock.

Freshworks Price Performance

Shares of FRSH opened at $13.32 on Thursday. The company has a market capitalization of $3.93 billion, a PE ratio of -74.00 and a beta of 0.94. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The company's fifty day moving average price is $14.70 and its 200 day moving average price is $15.21.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The firm had revenue of $204.68 million for the quarter, compared to the consensus estimate of $198.85 million. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The business's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. Analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Freshworks from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Oppenheimer dropped their price target on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Scotiabank upped their price target on shares of Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. Wells Fargo & Company upped their price target on shares of Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 price target on shares of Freshworks in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.29.

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.

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