Freshworks Inc. (NASDAQ:FRSH) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC lifted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 47.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779,423 shares of the company's stock after purchasing an additional 250,622 shares during the period. Nuveen Asset Management LLC owned about 0.26% of Freshworks worth $12,603,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Smith Group Asset Management LLC purchased a new position in shares of Freshworks during the 4th quarter worth approximately $589,000. Barclays PLC boosted its position in Freshworks by 33.4% during 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. Raymond James Financial Inc. acquired a new stake in Freshworks during the fourth quarter worth approximately $20,666,000. Lisanti Capital Growth LLC acquired a new stake in Freshworks during the fourth quarter worth approximately $2,290,000. Finally, Ceera Investments LLC boosted its position in Freshworks by 1,261.7% during the fourth quarter. Ceera Investments LLC now owns 455,420 shares of the company's stock worth $7,364,000 after acquiring an additional 421,975 shares during the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Freshworks Stock Up 0.9%

Shares of FRSH traded up $0.14 during midday trading on Wednesday, hitting $15.03. The company had a trading volume of 1,812,149 shares, compared to its average volume of 3,287,540. The company's 50 day moving average price is $14.06 and its 200 day moving average price is $15.72. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of -46.97 and a beta of 0.97. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced 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 net margin of 13.24% and a negative return on equity of 6.63%. The business had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. Equities analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

FRSH has been the topic of a number of analyst reports. Oppenheimer decreased their target price on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird set a $18.00 target price on shares of Freshworks in a research note on Wednesday, February 12th. Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of Freshworks in a research note on Monday, March 17th. Canaccord Genuity Group raised their target price on shares of Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald boosted their price objective on shares of Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.21.

Insider Activity at Freshworks

In related news, insider Mika Yamamoto sold 2,859 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.74, for a total transaction of $47,859.66. Following the completion of the sale, the insider now owns 615,893 shares of the company's stock, valued at $10,310,048.82. This represents a 0.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $14.69, for a total transaction of $123,880.77. Following the sale, the director now directly owns 24,890 shares of the company's stock, valued at approximately $365,634.10. This represents a 25.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,421 shares of company stock valued at $603,164 in the last quarter. Insiders own 11.17% of the company's stock.

Freshworks Company 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.