Man Group plc Has $4.74 Million Holdings in Freshworks Inc. (NASDAQ:FRSH)

Man Group plc increased its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 1,546.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 293,049 shares of the company's stock after acquiring an additional 275,251 shares during the period. Man Group plc owned approximately 0.10% of Freshworks worth $4,739,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FRSH. Eminence Capital LP purchased a new position in Freshworks in the 4th quarter valued at about $86,002,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Freshworks in the fourth quarter worth about $61,530,000. Norges Bank purchased a new position in Freshworks in the fourth quarter valued at about $57,527,000. Fuller & Thaler Asset Management Inc. purchased a new position in Freshworks in the fourth quarter valued at about $49,946,000. Finally, Topline Capital Management LLC acquired a new stake in Freshworks during the 4th quarter valued at approximately $27,166,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Stock Up 3.5%

NASDAQ FRSH traded up $0.50 on Tuesday, reaching $14.92. 341,238 shares of the stock traded hands, compared to its average volume of 3,286,738. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The company has a market cap of $4.40 billion, a price-to-earnings ratio of -46.61 and a beta of 0.97. The firm's fifty day simple moving average is $14.08 and its 200 day simple moving average is $15.73.

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

Insider Activity

In other Freshworks news, insider Mika Yamamoto sold 2,859 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $16.74, for a total value of $47,859.66. Following the transaction, the insider now owns 615,893 shares of the company's stock, valued at approximately $10,310,048.82. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of Freshworks 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 completion of the transaction, the director now owns 37,895 shares in the company, valued at $583,961.95. The trade was a 11.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,421 shares of company stock worth $603,164. Corporate insiders own 11.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FRSH shares. Wells Fargo & Company upped their target price on Freshworks from $11.00 to $12.00 and gave the company an "underweight" rating in a research report on Wednesday, April 30th. UBS Group decreased their target price on Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Oppenheimer lowered their target price on Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Scotiabank lifted their target price on Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.21.

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.