ProShare Advisors LLC Acquires 19,125 Shares of Freshworks Inc. (NASDAQ:FRSH)

ProShare Advisors LLC lifted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 48.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 reporting period.

A number of other large investors have also modified their holdings of the business. Eminence Capital LP purchased a new stake in shares of Freshworks during the 4th quarter worth $86,002,000. Arrowstreet Capital Limited Partnership acquired a new stake in Freshworks during the 4th quarter worth approximately $61,530,000. Norges Bank acquired a new stake in Freshworks during the 4th quarter worth approximately $57,527,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Freshworks during the 4th quarter worth approximately $49,946,000. Finally, Topline Capital Management LLC acquired a new stake in Freshworks in the fourth quarter valued at approximately $27,166,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Freshworks

In other news, insider Mika Yamamoto sold 2,859 shares of the business's stock in a transaction dated 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 directly owns 615,893 shares in the company, valued at approximately $10,310,048.82. The trade was a 0.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.41, for a total transaction of $72,195.85. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,421 shares of company stock worth $603,164. 11.17% of the stock is currently owned by company insiders.

Freshworks Price Performance

Shares of NASDAQ:FRSH traded up $0.09 during midday trading on Wednesday, reaching $14.98. The company's stock had a trading volume of 1,001,081 shares, compared to its average volume of 3,529,001. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The company has a market capitalization of $4.42 billion, a P/E ratio of -46.77 and a beta of 0.97. The business's fifty day simple moving average is $14.07 and its 200-day simple moving average is $15.73.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.05. The firm had revenue of $196.27 million during the quarter, compared to analyst estimates 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 revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. On average, analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. Oppenheimer dropped 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. Wall Street Zen raised shares of Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group decreased their price target on shares of Freshworks from $22.00 to $20.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Finally, Robert W. Baird set a $18.00 price target on shares of Freshworks in a research report on Wednesday, February 12th. One equities research 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.