Two Sigma Investments LP Raises Holdings in Freshworks Inc. (NASDAQ:FRSH)

Two Sigma Investments LP boosted its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 3,942.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 865,141 shares of the company's stock after acquiring an additional 843,741 shares during the quarter. Two Sigma Investments LP owned 0.29% of Freshworks worth $13,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Avion Wealth purchased a new stake in Freshworks during the 4th quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in 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 boosted 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 valued at $64,000 after acquiring an additional 3,700 shares during the period. Nisa Investment Advisors LLC boosted its holdings in 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 boosted its holdings in 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. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

Freshworks Price Performance

FRSH stock traded up $0.09 on Thursday, reaching $15.12. 853,121 shares of the company traded hands, compared to its average volume of 3,278,100. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The company has a market cap of $4.46 billion, a P/E ratio of -47.23 and a beta of 0.97. The firm has a fifty day simple moving average of $14.06 and a 200-day simple moving average of $15.72.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.63% and a negative net margin of 13.24%. The company had revenue of $196.27 million during the quarter, compared to analyst estimates of $191.90 million. During the same quarter last year, the company earned $0.10 EPS. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. On average, sell-side analysts forecast that Freshworks Inc. will post -0.19 EPS for the current year.

Insider Activity at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $16.74, for a total transaction of $47,859.66. Following the sale, the insider now directly owns 615,893 shares in the company, valued at approximately $10,310,048.82. This trade represents a 0.46% decrease in their position. The sale 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 on Friday, May 2nd. The shares were sold at an average price of $14.69, for a total value of $123,880.77. Following the sale, the director now owns 24,890 shares in the company, valued at approximately $365,634.10. This represents a 25.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,421 shares of company stock valued at $603,164 in the last 90 days. Corporate insiders own 11.17% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on FRSH shares. Barclays upped their price target on Freshworks from $14.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their price target on Freshworks from $11.00 to $12.00 and gave the company an "underweight" rating in a research report on Wednesday, April 30th. Morgan Stanley upped their price target on Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Oppenheimer decreased 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. Finally, JMP Securities reissued a "market outperform" rating and issued a $27.00 target price on shares of Freshworks in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.