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

Tairen Capital Ltd bought a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 60,000 shares of the company's stock, valued at approximately $970,000.

Other institutional investors also recently modified their holdings of the company. Avion Wealth acquired a new position in shares of Freshworks during the 4th quarter valued at $26,000. Blue Trust Inc. lifted its position in shares of Freshworks by 32.2% during 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 period. National Bank of Canada FI lifted its position in shares of Freshworks by 1,385.8% during 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 period. Nisa Investment Advisors LLC lifted its position in shares of Freshworks by 102.4% during 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 period. Finally, Covestor Ltd lifted its position in shares of Freshworks by 30.2% during 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 period. Institutional investors and hedge funds own 75.58% of the company's stock.

Insider Buying and Selling

In other news, Director Jennifer H. Taylor sold 4,685 shares of Freshworks stock in a transaction that occurred 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 sale, the director now owns 37,895 shares in the company, valued at $583,961.95. This trade represents a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of Freshworks stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $16.74, for a total transaction of $47,859.66. Following the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 39,421 shares of company stock worth $603,164 in the last quarter. Corporate insiders own 11.17% of the company's stock.

Freshworks Trading Down 1.4%

Shares of FRSH stock traded down $0.21 during trading hours on Friday, hitting $14.42. 2,877,185 shares of the company's stock were exchanged, compared to its average volume of 3,298,286. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $19.77. The company has a market capitalization of $4.25 billion, a PE ratio of -45.06 and a beta of 0.97. The business's 50 day simple moving average is $14.10 and its 200-day simple moving average is $15.75.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The business had revenue of $196.27 million for the quarter, compared to the consensus estimate of $191.90 million. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The company's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. Equities analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

FRSH has been the topic of a number of research reports. Piper Sandler reiterated an "overweight" rating and set a $22.00 target price (up previously from $20.00) on shares of Freshworks in a research report on Wednesday, April 30th. Canaccord Genuity Group upped their price objective on shares of Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Barclays upped their price objective on shares of Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Cantor Fitzgerald upped their price objective on shares of Freshworks from $18.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley increased their price target on shares of Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.