Vident Advisory LLC Acquires Shares of 19,541 Freshworks Inc. (NASDAQ:FRSH)

Vident Advisory LLC bought a new stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 19,541 shares of the company's stock, valued at approximately $316,000.

Several other hedge funds have also made changes to their positions in the company. Barclays PLC increased its holdings in shares of Freshworks by 33.4% during the 3rd quarter. Barclays PLC now owns 337,621 shares of the company's stock worth $3,875,000 after buying an additional 84,568 shares during the last quarter. Nisa Investment Advisors LLC grew its position in 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 acquiring an additional 2,223 shares during the period. Blue Trust Inc. increased its stake in Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after acquiring an additional 954 shares during the last quarter. KBC Group NV raised its position in Freshworks by 59.1% in the fourth quarter. KBC Group NV now owns 7,604 shares of the company's stock valued at $123,000 after purchasing an additional 2,824 shares during the period. Finally, Smith Group Asset Management LLC purchased a new stake in Freshworks in the fourth quarter valued at $589,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

Insider Activity

In other Freshworks news, insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $14.20, for a total value of $50,750.80. Following the transaction, the insider now directly owns 611,604 shares in the company, valued at approximately $8,684,776.80. This trade represents a 0.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin sold 6,303 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $14.75, for a total value of $92,969.25. Following the sale, the director now owns 169,586 shares of the company's stock, valued at $2,501,393.50. This trade represents a 3.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,909 shares of company stock valued at $425,981. Insiders own 11.17% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FRSH shares. Morgan Stanley increased their price objective on shares of Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Oppenheimer lowered their price target on Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 price objective on shares of Freshworks in a research note on Wednesday, April 30th. Needham & Company LLC reissued a "buy" rating and set a $25.00 target price on shares of Freshworks in a research note on Monday, March 17th. Finally, Cantor Fitzgerald raised their target price on Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.21.

Freshworks Price Performance

Shares of FRSH stock traded down $0.25 during trading hours on Monday, hitting $15.02. The stock had a trading volume of 3,215,760 shares, compared to its average volume of 3,281,852. The firm has a market capitalization of $4.43 billion, a PE ratio of -46.94 and a beta of 0.97. The stock's 50 day moving average is $14.00 and its 200 day moving average is $15.69. 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 results on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.13 by $0.05. The firm had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. Freshworks's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, equities analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current 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.