Tpg Gp A LLC Has $70.29 Million Holdings in Freshworks Inc. (NASDAQ:FRSH)

TPG GP A LLC lifted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 28.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,346,855 shares of the company's stock after buying an additional 969,283 shares during the period. Freshworks comprises 1.1% of TPG GP A LLC's holdings, making the stock its 18th largest position. TPG GP A LLC owned approximately 1.44% of Freshworks worth $70,289,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Smith Group Asset Management LLC acquired a new stake in Freshworks in the 4th quarter valued at about $589,000. Barclays PLC lifted its stake in Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company's stock valued at $3,875,000 after purchasing an additional 84,568 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Freshworks in the 4th quarter valued at about $20,666,000. Lisanti Capital Growth LLC bought a new position in Freshworks in the 4th quarter valued at about $2,290,000. Finally, Ceera Investments LLC raised its holdings in Freshworks by 1,261.7% in the 4th quarter. Ceera Investments LLC now owns 455,420 shares of the company's stock valued at $7,364,000 after acquiring an additional 421,975 shares during the period. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price target on shares of Freshworks in a report on Monday, March 17th. 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 report on Wednesday, April 9th. StockNews.com raised shares of Freshworks from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Piper Sandler reissued an "overweight" rating and issued a $22.00 price target (up from $20.00) on shares of Freshworks in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald increased their price target on shares of Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a report 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.21.

Freshworks Price Performance

NASDAQ:FRSH traded down $0.23 during mid-day trading on Wednesday, reaching $14.51. The stock had a trading volume of 2,888,638 shares, compared to its average volume of 3,285,702. The stock has a 50-day simple moving average of $14.12 and a two-hundred day simple moving average of $15.70. The stock has a market capitalization of $4.28 billion, a PE ratio of -45.34 and a beta of 0.97. Freshworks Inc. has a 12 month low of $10.81 and a 12 month high of $19.77.

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

Insider Buying and Selling at Freshworks

In other news, insider Mika Yamamoto sold 2,859 shares of Freshworks stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johanna Flower sold 1,450 shares of Freshworks stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $26,114.50. Following the transaction, the director now owns 41,491 shares in the company, valued at approximately $747,252.91. This trade represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,871 shares of company stock worth $629,278 over the last quarter. Corporate insiders own 11.17% of the company's stock.

About Freshworks

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.