Tairen Capital Ltd Takes $970,000 Position in Freshworks Inc. (NASDAQ:FRSH)

Tairen Capital Ltd purchased a new stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 60,000 shares of the company's stock, valued at approximately $970,000.

Several other large investors also recently made changes to their positions in FRSH. Avion Wealth acquired a new position in shares of Freshworks in the 4th quarter worth $26,000. Blue Trust Inc. increased its stake in Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after purchasing an additional 954 shares in the last quarter. National Bank of Canada FI raised its holdings in Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock worth $64,000 after buying an additional 3,700 shares during the period. Nisa Investment Advisors LLC lifted its stake in Freshworks by 102.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after buying an additional 2,223 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Freshworks by 30.2% in the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock worth $76,000 after buying an additional 1,087 shares during the period. Institutional investors own 75.58% of the company's stock.

Insider Buying and Selling

In related news, Director Roxanne S. Austin sold 6,303 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $14.75, for a total transaction of $92,969.25. Following the completion of the sale, the director now directly owns 169,586 shares of the company's stock, valued at approximately $2,501,393.50. This represents a 3.58% decrease in their position. The transaction 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 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 directly owns 24,187 shares of the company's stock, valued at approximately $404,406.64. This represents a 25.85% decrease in their position. 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 insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FRSH shares. Piper Sandler reiterated an "overweight" rating and set a $22.00 price objective (up from $20.00) on shares of Freshworks in a research report on Wednesday, April 30th. Wall Street Zen raised Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. UBS Group dropped their price target on Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Barclays increased their price objective on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group raised their price objective on Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.21.

Freshworks Stock Up 0.8%

FRSH stock traded up $0.12 during trading hours on Thursday, hitting $14.63. The company's stock had a trading volume of 3,629,183 shares, compared to its average volume of 3,287,072. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77. The stock has a 50 day moving average price of $14.12 and a two-hundred day moving average price of $15.70. The company has a market capitalization of $4.32 billion, a PE ratio of -45.72 and a beta of 0.97.

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. The company had revenue of $196.27 million for 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 business's revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. Sell-side analysts expect 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.