Jump Financial LLC Sells 294,193 Shares of Freshworks Inc. (NASDAQ:FRSH)

Jump Financial LLC decreased its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 77.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,600 shares of the company's stock after selling 294,193 shares during the period. Jump Financial LLC's holdings in Freshworks were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Avion Wealth bought a new stake in Freshworks during the 4th quarter worth approximately $26,000. Blue Trust Inc. grew its holdings 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 buying an additional 954 shares in the last quarter. National Bank of Canada FI raised its position in Freshworks by 1,385.8% in the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock valued at $64,000 after buying an additional 3,700 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after acquiring an additional 2,223 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Freshworks by 30.2% during the 4th quarter. Covestor Ltd now owns 4,686 shares of the company's stock worth $76,000 after acquiring an additional 1,087 shares during the last quarter. 75.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on FRSH. Piper Sandler lowered their target price on shares of Freshworks from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday. Barclays upped their target price on Freshworks from $14.00 to $20.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Oppenheimer dropped their price target on Freshworks from $24.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company reduced their price objective on Freshworks from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Tuesday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $25.00 target price on shares of Freshworks in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Freshworks has a consensus rating of "Moderate Buy" and a consensus target price of $19.64.

Freshworks Price Performance

FRSH stock traded up $0.27 during midday trading on Friday, reaching $13.91. The company had a trading volume of 840,238 shares, compared to its average volume of 3,321,224. The firm has a 50-day moving average price of $14.72 and a 200-day moving average price of $15.27. The company has a market capitalization of $4.19 billion, a P/E ratio of -43.45 and a beta of 0.98. Freshworks Inc. has a 1 year low of $10.81 and a 1 year high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. On average, equities analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

Insider Buying and Selling at Freshworks

In other news, Director Zachary Nelson sold 8,442 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $18.30, for a total value of $154,488.60. Following the completion of the sale, the director now owns 24,187 shares of the company's stock, valued at approximately $442,622.10. The trade was a 25.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mika Yamamoto sold 2,859 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $18.29, for a total value of $52,291.11. Following the completion of the sale, the insider now owns 397,390 shares of the company's stock, valued at $7,268,263.10. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,177 shares of company stock worth $498,042 over the last ninety days. Insiders own 19.15% of the company's stock.

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.