312,500 Shares in Freshworks Inc. (NASDAQ:FRSH) Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. acquired a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 312,500 shares of the company's stock, valued at approximately $5,053,000. Polar Asset Management Partners Inc. owned approximately 0.10% of Freshworks as of its most recent SEC filing.

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

Freshworks Trading Up 1.9%

NASDAQ FRSH traded up $0.28 on Friday, hitting $15.27. 3,575,087 shares of the company traded hands, compared to its average volume of 3,288,107. The business's 50 day moving average price is $14.04 and its 200-day moving average price is $15.71. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of -47.72 and a beta of 0.97.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted 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. The firm had revenue of $196.27 million for 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 business's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. As a group, sell-side analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction on Monday, May 12th. The shares were sold at an average price of $15.41, for a total transaction of $72,195.85. Following the transaction, the director now owns 37,895 shares in the company, valued at approximately $583,961.95. The trade was a 11.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Zachary Nelson sold 8,433 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.72, for a total value of $140,999.76. Following the sale, the director now directly owns 24,187 shares in the company, valued at approximately $404,406.64. This represents a 25.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,421 shares of company stock worth $603,164 over the last three months. 11.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on FRSH shares. Morgan Stanley lifted their target price on Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Scotiabank upped their target price on shares of Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. Piper Sandler reiterated an "overweight" rating and issued a $22.00 price target (up from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Robert W. Baird set a $18.00 price objective on shares of Freshworks in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their target price on shares of Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.