ProShare Advisors LLC Has $941,000 Stock Holdings in Freshworks Inc. (NASDAQ:FRSH)

ProShare Advisors LLC increased its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 48.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,200 shares of the company's stock after purchasing an additional 19,125 shares during the quarter. ProShare Advisors LLC's holdings in Freshworks were worth $941,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Avion Wealth acquired a new stake in Freshworks in the fourth quarter worth about $26,000. Blue Trust Inc. lifted its holdings in Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after acquiring an additional 954 shares during the last quarter. National Bank of Canada FI lifted its holdings 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 valued at $64,000 after acquiring an additional 3,700 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after acquiring an additional 2,223 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Freshworks by 30.2% in the 4th quarter. Covestor Ltd now owns 4,686 shares of the company's stock valued at $76,000 after acquiring an additional 1,087 shares during the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

Insider Activity at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $16.72, for a total transaction of $140,999.76. Following the transaction, the director now owns 24,187 shares in the company, valued at $404,406.64. This trade represents a 25.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.41, for a total value of $72,195.85. Following the transaction, the director now owns 37,895 shares in the company, valued at approximately $583,961.95. This trade represents a 11.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,421 shares of company stock valued at $603,164. 11.17% of the stock is owned by corporate insiders.

Freshworks Stock Up 0.6%

Shares of FRSH traded up $0.09 during trading hours on Thursday, reaching $15.12. The company's stock had a trading volume of 853,121 shares, compared to its average volume of 3,278,100. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of -47.23 and a beta of 0.97. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77. The company has a 50 day moving average of $14.06 and a two-hundred day moving average of $15.72.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 EPS 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 firm's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. As a group, analysts forecast that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FRSH shares. Morgan Stanley upped their price target on shares of Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Barclays upped their price target on shares of Freshworks from $14.00 to $20.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Jefferies Financial Group cut their price target on shares of Freshworks from $22.00 to $20.00 and set a "hold" rating for the company in a report on Monday, March 31st. Scotiabank upped their price target on shares of Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company boosted their price objective on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.21.

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.