Freshworks Inc. (NASDAQ:FRSH) Shares Acquired by Graham Capital Management L.P.

Graham Capital Management L.P. boosted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 342.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,427 shares of the company's stock after buying an additional 87,000 shares during the quarter. Graham Capital Management L.P.'s holdings in Freshworks were worth $1,818,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Smith Group Asset Management LLC bought a new position in shares of Freshworks in the fourth quarter worth about $589,000. Barclays PLC increased its stake in Freshworks by 33.4% in 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Freshworks in the 4th quarter worth $20,666,000. Lisanti Capital Growth LLC bought a new stake in Freshworks during the fourth quarter valued at about $2,290,000. Finally, Ceera Investments LLC lifted its position 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 valued at $7,364,000 after acquiring an additional 421,975 shares in the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Freshworks Trading Down 1.7%

NASDAQ:FRSH traded down $0.26 during midday trading on Thursday, hitting $15.48. 1,582,174 shares of the company traded hands, compared to its average volume of 3,275,044. The firm's fifty day moving average is $14.10 and its 200-day moving average is $15.59. The firm has a market capitalization of $4.57 billion, a P/E ratio of -48.38 and a beta of 0.97. Freshworks Inc. has a 12-month low of $10.81 and a 12-month high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $196.27 million during the quarter, compared to analyst estimates 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 revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the business earned $0.10 EPS. On average, research analysts expect that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

FRSH has been the subject of several research analyst reports. Scotiabank increased their target price on Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. Canaccord Genuity Group lifted their price target on shares of Freshworks from $19.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Cantor Fitzgerald increased their price objective on shares of Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Barclays lifted their target price on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Finally, Oppenheimer dropped their price target on Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Freshworks presently has an average rating of "Moderate Buy" and an average target price of $20.21.

Insider Buying and Selling at Freshworks

In related news, Director Jennifer H. Taylor sold 4,685 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.41, for a total transaction of $72,195.85. Following the completion of the sale, the director now directly owns 37,895 shares in the company, valued at $583,961.95. This represents a 11.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mika Yamamoto sold 3,574 shares of the company's stock in a transaction 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. The trade was a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,871 shares of company stock worth $629,278 over the last 90 days. Company insiders own 19.15% of the company's stock.

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.