Freshworks Inc. (NASDAQ:FRSH) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 165.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,672 shares of the company's stock after buying an additional 40,970 shares during the quarter. Hsbc Holdings PLC's holdings in Freshworks were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Smith Group Asset Management LLC acquired a new stake in shares of Freshworks during the 4th quarter worth $589,000. Barclays PLC lifted its holdings in Freshworks by 33.4% during the third quarter. Barclays PLC now owns 337,621 shares of the company's stock valued at $3,875,000 after purchasing an additional 84,568 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Freshworks during the fourth quarter valued at $20,666,000. Lisanti Capital Growth LLC purchased a new position in shares of Freshworks during the fourth quarter worth approximately $2,290,000. Finally, Ceera Investments LLC increased its stake in shares of Freshworks by 1,261.7% in the fourth quarter. Ceera Investments LLC now owns 455,420 shares of the company's stock worth $7,364,000 after buying an additional 421,975 shares during the period. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Zachary Nelson sold 8,433 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.72, for a total value of $140,999.76. Following the transaction, the director now owns 24,187 shares of the company's stock, valued at $404,406.64. This represents a 25.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $14.66, for a total transaction of $52,394.84. Following the completion of the transaction, the insider now owns 608,030 shares of the company's stock, valued at $8,913,719.80. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,883 shares of company stock worth $464,113 in the last quarter. 19.15% of the stock is owned by corporate insiders.

Freshworks Stock Down 1.4 %

NASDAQ:FRSH traded down $0.20 on Friday, hitting $14.53. The stock had a trading volume of 683,311 shares, compared to its average volume of 3,268,912. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The company has a market cap of $4.38 billion, a PE ratio of -45.41 and a beta of 0.97. The business's fifty day moving average is $14.15 and its 200 day moving average is $15.48.

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 the consensus estimate of $0.13 by $0.05. The firm had revenue of $196.27 million for the quarter, compared to analysts' expectations of $191.90 million. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. Equities analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FRSH has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Barclays increased their price target on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Cantor Fitzgerald lifted their price target on Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Piper Sandler reiterated an "overweight" rating and set a $22.00 price target (up previously from $20.00) on shares of Freshworks in a research note on Wednesday, April 30th. Finally, Canaccord Genuity Group raised their target price on Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Freshworks currently has an average rating of "Moderate Buy" and an average price target 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.