Diker Management LLC Sells 54,474 Shares of Freshworks Inc. (NASDAQ:FRSH)

Diker Management LLC reduced its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 32.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,526 shares of the company's stock after selling 54,474 shares during the quarter. Freshworks makes up 1.6% of Diker Management LLC's investment portfolio, making the stock its 14th largest position. Diker Management LLC's holdings in Freshworks were worth $1,868,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. EP Wealth Advisors LLC acquired a new stake in Freshworks during the 4th quarter worth about $270,000. Eminence Capital LP bought a new stake in Freshworks in the fourth quarter valued at approximately $86,002,000. Crestline Management LP bought a new stake in Freshworks in the 4th quarter valued at approximately $1,004,000. Caption Management LLC bought a new position in Freshworks during the fourth quarter worth about $1,205,000. Finally, Cetera Investment Advisers bought a new stake in Freshworks in the 4th quarter valued at $190,000. Institutional investors and hedge funds own 75.58% of the company's stock.

Insider Buying and Selling

In other Freshworks news, insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $14.20, for a total transaction 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. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $14.69, for a total transaction of $123,880.77. Following the transaction, the director now owns 24,890 shares in the company, valued at approximately $365,634.10. The trade was a 25.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,871 shares of company stock worth $629,278 in the last quarter. 19.15% of the stock is currently owned by company insiders.

Freshworks Stock Up 2.2%

Shares of NASDAQ FRSH traded up $0.35 during midday trading on Tuesday, hitting $16.02. The stock had a trading volume of 1,535,740 shares, compared to its average volume of 3,269,686. The company has a fifty day moving average price of $14.10 and a 200 day moving average price of $15.59. Freshworks Inc. has a 1-year low of $10.81 and a 1-year high of $19.77. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of -50.06 and a beta of 0.97.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Oppenheimer reduced 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. Jefferies Financial Group cut their target price on Freshworks from $22.00 to $20.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price target on shares of Freshworks in a research note on Monday, March 17th. Canaccord Genuity Group boosted their price target on shares of Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Finally, StockNews.com raised Freshworks from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Freshworks has a consensus rating of "Moderate Buy" and a consensus target price of $20.21.

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.