Marshall Wace LLP Grows Position in Freshworks Inc. (NASDAQ:FRSH)

Marshall Wace LLP lifted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 5,065.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 816,978 shares of the company's stock after purchasing an additional 801,162 shares during the quarter. Marshall Wace LLP owned about 0.27% of Freshworks worth $13,211,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FRSH. Avion Wealth purchased a new stake in Freshworks during the 4th quarter worth about $26,000. Blue Trust Inc. increased its stake in shares of 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 during the period. National Bank of Canada FI increased its stake in shares of Freshworks by 1,385.8% during the fourth quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock worth $64,000 after buying an additional 3,700 shares during the period. Nisa Investment Advisors LLC lifted its stake 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 last quarter. Finally, Covestor Ltd grew 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 in the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FRSH shares. 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 report on Wednesday, April 9th. Scotiabank lowered their price objective on Freshworks from $19.00 to $14.00 and set a "sector perform" rating for the company in a research report on Thursday. JMP Securities set a $27.00 price objective on Freshworks in a report on Wednesday, February 12th. StockNews.com upgraded Freshworks from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, Piper Sandler dropped their price target on shares of Freshworks from $24.00 to $20.00 and set an "overweight" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Freshworks has an average rating of "Moderate Buy" and a consensus price target of $19.64.

Insider Buying and Selling at Freshworks

In other Freshworks news, insider Mika Yamamoto sold 2,859 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was 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 approximately $7,268,263.10. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $18.30, for a total transaction of $154,488.60. Following the transaction, the director now directly owns 24,187 shares in the company, valued at approximately $442,622.10. This trade represents a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,177 shares of company stock valued at $498,042. 19.15% of the stock is owned by company insiders.

Freshworks Price Performance

Shares of NASDAQ:FRSH traded up $0.43 on Friday, reaching $14.07. The company's stock had a trading volume of 3,120,803 shares, compared to its average volume of 3,337,230. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The stock has a market capitalization of $4.24 billion, a P/E ratio of -43.97 and a beta of 0.98. The stock's 50-day moving average is $14.65 and its two-hundred day moving average is $15.29.

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

Freshworks 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.