Tpg Gp A LLC Boosts Holdings in Freshworks Inc. (NASDAQ:FRSH)

TPG GP A LLC raised its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 28.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,346,855 shares of the company's stock after purchasing an additional 969,283 shares during the period. Freshworks accounts for approximately 1.1% of TPG GP A LLC's portfolio, making the stock its 18th biggest holding. TPG GP A LLC owned approximately 1.44% of Freshworks worth $70,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Avion Wealth purchased a new stake in Freshworks in the 4th quarter valued at about $26,000. Blue Trust Inc. increased its position in shares of Freshworks by 32.2% during the fourth 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 last quarter. National Bank of Canada FI raised its stake in shares of Freshworks by 1,385.8% in 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 holdings in shares of Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock worth $71,000 after acquiring an additional 2,223 shares during the last quarter. Finally, Covestor Ltd boosted 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 worth $76,000 after purchasing an additional 1,087 shares during the period. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Freshworks

In related news, insider Mika Yamamoto sold 2,859 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $10,310,048.82. The trade was a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer H. Taylor sold 4,685 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $15.41, for a total value of $72,195.85. Following the completion of the sale, the director now owns 37,895 shares in the company, valued at approximately $583,961.95. This represents a 11.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,421 shares of company stock valued at $603,164 over the last ninety days. Insiders own 11.17% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wall Street Zen upgraded Freshworks from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Jefferies Financial Group lowered their target price on Freshworks from $22.00 to $20.00 and set a "hold" rating for the company in a report on Monday, March 31st. Oppenheimer dropped their target price on Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Cantor Fitzgerald raised their price objective on shares of Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird set a $18.00 price objective on shares of Freshworks in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.21.

Freshworks Price Performance

Shares of NASDAQ FRSH traded down $0.21 during midday trading on Friday, hitting $14.42. 2,877,185 shares of the company's stock were exchanged, compared to its average volume of 3,295,022. The firm's fifty day simple moving average is $14.10 and its 200-day simple moving average is $15.74. The company has a market cap of $4.25 billion, a PE ratio of -45.06 and a beta of 0.97. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, topping 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 company had revenue of $196.27 million for the quarter, compared to analysts' expectations of $191.90 million. During the same quarter last year, the company earned $0.10 earnings per share. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. Equities analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

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.