ProShare Advisors LLC Increases Stake in Freshworks Inc. (NASDAQ:FRSH)

ProShare Advisors LLC raised its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 48.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,200 shares of the company's stock after buying an additional 19,125 shares during the period. ProShare Advisors LLC's holdings in Freshworks were worth $941,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Smith Group Asset Management LLC purchased a new stake in shares of Freshworks during the fourth quarter worth about $589,000. Barclays PLC increased its stake in shares of 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 purchasing an additional 84,568 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Freshworks during the fourth quarter worth about $20,666,000. Lisanti Capital Growth LLC purchased a new stake in shares of Freshworks during the fourth quarter worth about $2,290,000. Finally, Ceera Investments LLC increased its stake in shares of 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 purchasing an additional 421,975 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company's stock.

Insider Transactions at Freshworks

In other news, Director Zachary Nelson sold 8,433 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $16.72, for a total value of $140,999.76. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mika Yamamoto sold 2,859 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $16.74, for a total transaction of $47,859.66. Following the completion of the transaction, the insider now owns 615,893 shares in the company, valued at approximately $10,310,048.82. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,421 shares of company stock worth $603,164. 11.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on FRSH shares. Needham & Company LLC reissued a "buy" rating and set a $25.00 target price on shares of Freshworks in a research note on Monday, March 17th. Canaccord Genuity Group boosted their price target on shares of Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Barclays boosted their price target on shares of Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. JMP Securities restated a "market outperform" rating and set a $27.00 price target on shares of Freshworks in a research report on Wednesday, April 30th. Finally, Oppenheimer lowered their price target 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. 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. Based on data from MarketBeat, Freshworks currently has an average rating of "Moderate Buy" and a consensus target price of $20.21.

Freshworks Stock Up 3.3%

NASDAQ:FRSH traded up $0.47 on Tuesday, hitting $14.89. The stock had a trading volume of 2,032,589 shares, compared to its average volume of 3,293,223. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of -46.53 and a beta of 0.97. The company has a fifty day moving average price of $14.08 and a two-hundred day moving average price of $15.73. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted 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. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The company had revenue of $196.27 million for the quarter, compared to analyst estimates of $191.90 million. During the same period in the previous year, the business posted $0.10 EPS. Freshworks's revenue was up 18.9% on a year-over-year basis. As a group, analysts anticipate that Freshworks Inc. will post -0.19 earnings per share for the current year.

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.