Teza Capital Management LLC Buys Shares of 53,951 Freshworks Inc. (NASDAQ:FRSH)

Teza Capital Management LLC 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 Form 13F filing with the Securities and Exchange Commission. The fund bought 53,951 shares of the company's stock, valued at approximately $872,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC increased its holdings in shares of Freshworks by 33.4% in 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 during the period. Nisa Investment Advisors LLC increased its holdings in shares of Freshworks by 102.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock worth $71,000 after purchasing an additional 2,223 shares during the period. Blue Trust Inc. increased its holdings in shares of Freshworks by 32.2% in the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after purchasing an additional 954 shares during the period. KBC Group NV increased its holdings in shares of Freshworks by 59.1% in the fourth quarter. KBC Group NV now owns 7,604 shares of the company's stock worth $123,000 after purchasing an additional 2,824 shares during the period. Finally, Smith Group Asset Management LLC bought a new position in shares of Freshworks in the fourth quarter worth $589,000. Institutional investors own 75.58% of the company's stock.

Freshworks Stock Down 4.1%

NASDAQ FRSH opened at $14.85 on Tuesday. The company has a 50-day simple moving average of $14.12 and a two-hundred day simple moving average of $15.72. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $19.77. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -46.41 and a beta of 0.97.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) 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 business had revenue of $196.27 million during the quarter, compared to analyst estimates of $191.90 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company's revenue was up 18.9% on a year-over-year basis. Equities analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FRSH shares. Canaccord Genuity Group upped their price target on shares of Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. UBS Group decreased their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Robert W. Baird set a $18.00 price target on shares of Freshworks in a report on Wednesday, February 12th. Wells Fargo & Company increased their target price on Freshworks from $11.00 to $12.00 and gave the company an "underweight" rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald increased their target price on Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Freshworks has an average rating of "Moderate Buy" and an average price target of $20.21.

Insider Buying and Selling at Freshworks

In other news, Director Johanna Flower sold 1,450 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $18.01, for a total transaction of $26,114.50. Following the completion of the sale, the director now directly owns 41,491 shares in the company, valued at approximately $747,252.91. This represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.72, for a total transaction of $140,999.76. Following the sale, the director now owns 24,187 shares of the company's stock, valued at approximately $404,406.64. This represents a 25.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,871 shares of company stock worth $629,278 over the last three months. Company insiders own 19.15% of the company's stock.

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.

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