Freshworks Inc. (NASDAQ:FRSH) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,401,650 shares of the company's stock after selling 187,565 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.47% of Freshworks worth $32,925,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Freshworks during the fourth quarter valued at approximately $483,000. Arizona State Retirement System raised its holdings in shares of Freshworks by 3.6% during the fourth quarter. Arizona State Retirement System now owns 42,120 shares of the company's stock valued at $989,000 after purchasing an additional 1,453 shares during the last quarter. Legato Capital Management LLC raised its holdings in shares of Freshworks by 13.3% during the fourth quarter. Legato Capital Management LLC now owns 60,895 shares of the company's stock valued at $1,430,000 after purchasing an additional 7,158 shares during the last quarter. Northside Capital Management LLC bought a new stake in Freshworks during the fourth quarter valued at approximately $226,000. Finally, Catalyst Private Wealth LLC bought a new stake in Freshworks during the fourth quarter valued at approximately $849,000. 75.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Johanna Flower sold 4,800 shares of the firm's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $19.05, for a total value of $91,440.00. Following the sale, the director now directly owns 23,451 shares in the company, valued at approximately $446,741.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Roxanne S. Austin sold 6,303 shares of the firm's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $21.54, for a total value of $135,766.62. Following the sale, the director now directly owns 88,431 shares in the company, valued at approximately $1,904,803.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Johanna Flower sold 4,800 shares of the firm's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $19.05, for a total transaction of $91,440.00. Following the completion of the sale, the director now owns 23,451 shares in the company, valued at $446,741.55. The disclosure for this sale can be found here. Insiders have sold a total of 458,557 shares of company stock worth $9,392,330 in the last three months. Corporate insiders own 26.66% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on FRSH shares. Jefferies Financial Group upgraded shares of Freshworks from a "hold" rating to a "buy" rating and boosted their target price for the company from $20.00 to $30.00 in a research report on Friday, January 5th. Piper Sandler boosted their target price on shares of Freshworks from $24.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, January 2nd. Wolfe Research raised shares of Freshworks from a "peer perform" rating to an "outperform" rating and set a $27.00 target price on the stock in a report on Tuesday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $25.00 target price on shares of Freshworks in a report on Wednesday, February 7th. Finally, Needham & Company LLC boosted their target price on shares of Freshworks from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, December 28th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Freshworks currently has an average rating of "Moderate Buy" and an average target price of $25.00.

Freshworks Trading Up 2.6 %

Shares of NASDAQ FRSH traded up $0.47 during mid-day trading on Monday, reaching $18.64. The company had a trading volume of 2,392,206 shares, compared to its average volume of 2,603,321. The business's 50-day moving average is $19.69 and its 200-day moving average is $20.16. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of -39.66 and a beta of 0.90. Freshworks Inc. has a 52 week low of $12.22 and a 52 week high of $24.98.

Freshworks (NASDAQ:FRSH - Get Free Report) last issued its earnings results on Tuesday, February 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. Freshworks had a negative net margin of 23.04% and a negative return on equity of 12.55%. The company had revenue of $160.11 million for the quarter, compared to analysts' expectations of $158.11 million. As a group, equities research analysts forecast that Freshworks Inc. will post -0.37 earnings per share for the current year.

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.