Universal Beteiligungs und Servicegesellschaft mbH Invests $4.51 Million in Freshworks Inc. (NASDAQ:FRSH)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 319,641 shares of Freshworks Inc., valued at approximately $4.51 million, representing 0.11% ownership in the company as per the latest SEC filing.
• Several hedge funds adjusted their positions in Freshworks, with significant increases in holdings, particularly by Vanguard Group Inc., which increased its stake by 5.7% to own 25 million shares valued at over $405 million.
• Freshworks has received a mix of ratings from analysts, including an upgrade to "overweight" by Cantor Fitzgerald, with a current average price target of $20.07 and a consensus rating of "Moderate Buy."

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 319,641 shares of the company's stock, valued at approximately $4,510,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.11% of Freshworks as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FRSH. Allianz Asset Management GmbH grew its position in shares of Freshworks by 20.0% during the first quarter. Allianz Asset Management GmbH now owns 251,271 shares of the company's stock worth $3,545,000 after buying an additional 41,878 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in Freshworks in the first quarter valued at $204,000. Victory Capital Management Inc. lifted its stake in Freshworks by 3,675.3% in the first quarter. Victory Capital Management Inc. now owns 803,423 shares of the company's stock valued at $11,336,000 after buying an additional 782,142 shares during the last quarter. BluePointe Capital Management LLC lifted its stake in Freshworks by 12.5% in the first quarter. BluePointe Capital Management LLC now owns 12,495 shares of the company's stock valued at $176,000 after buying an additional 1,393 shares during the last quarter. Finally, Dakota Wealth Management bought a new stake in shares of Freshworks during the first quarter valued at about $267,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

Insider Transactions at Freshworks

In related news, Director Barry L. Padgett sold 7,558 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $15.14, for a total value of $114,428.12. Following the completion of the sale, the director directly owned 32,635 shares in the company, valued at approximately $494,093.90. The trade was a 18.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Zachary Nelson sold 8,433 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $14.80, for a total value of $124,808.40. Following the transaction, the director owned 38,870 shares of the company's stock, valued at approximately $575,276. This trade represents a 17.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,075 shares of company stock worth $3,219,261. 11.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FRSH. Oppenheimer cut their price objective on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley lifted their price objective on shares of Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 price objective on the stock in a research note on Tuesday, June 3rd. Piper Sandler set a $25.00 price target on shares of Freshworks and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Scotiabank boosted their price target on shares of Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Freshworks presently has an average rating of "Moderate Buy" and an average price target of $20.29.

Freshworks Stock Performance

Shares of NASDAQ FRSH traded down $0.29 during trading hours on Thursday, hitting $13.29. The stock had a trading volume of 3,517,132 shares, compared to its average volume of 3,554,531. The company has a market capitalization of $3.92 billion, a P/E ratio of -73.79 and a beta of 0.95. The firm's 50-day moving average price is $14.87 and its two-hundred day moving average price is $15.35. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The business had revenue of $204.68 million during the quarter, compared to analysts' expectations of $198.85 million. Freshworks had a negative return on equity of 2.49% and a negative net margin of 7.02%. The firm's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, analysts expect 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.