190,788 Shares in Freshworks Inc. (NASDAQ:FRSH) Bought by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 190,788 shares of the company's stock, valued at approximately $4,482,000. Moody Aldrich Partners LLC owned approximately 0.06% of Freshworks at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FRSH. Advisors Asset Management Inc. increased its stake in Freshworks by 373.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,663 shares of the company's stock valued at $33,000 after purchasing an additional 1,312 shares in the last quarter. Quarry LP purchased a new position in Freshworks during the 2nd quarter worth $35,000. UBS Group AG boosted its holdings in Freshworks by 117.5% during the 3rd quarter. UBS Group AG now owns 3,574 shares of the company's stock worth $46,000 after acquiring an additional 1,931 shares during the last quarter. Quantbot Technologies LP purchased a new position in Freshworks during the 1st quarter worth $59,000. Finally, Neo Ivy Capital Management purchased a new position in Freshworks during the 3rd quarter worth $81,000. Institutional investors own 75.58% of the company's stock.

Freshworks Stock Up 0.6 %

Freshworks stock traded up $0.12 during midday trading on Tuesday, reaching $18.76. The stock had a trading volume of 1,816,493 shares, compared to its average volume of 2,591,751. Freshworks Inc. has a 12 month low of $12.22 and a 12 month high of $24.98. The firm's 50-day moving average price is $19.61 and its 200 day moving average price is $20.15. The firm has a market capitalization of $5.59 billion, a PE ratio of -39.91 and a beta of 0.90.

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

Analyst Ratings Changes

A number of research firms have issued reports on FRSH. Piper Sandler lifted their price objective on shares of Freshworks from $24.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, January 2nd. Jefferies Financial Group raised shares of Freshworks from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $20.00 to $30.00 in a report on Friday, January 5th. JMP Securities lifted their price objective on shares of Freshworks from $25.00 to $29.00 and gave the stock a "market outperform" rating in a report on Wednesday, February 7th. Wolfe Research raised shares of Freshworks from a "peer perform" rating to an "outperform" rating and set a $27.00 price target on the stock in a report on Tuesday, February 20th. Finally, Needham & Company LLC boosted their price target 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 research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.00.

Insider Activity

In other news, Director Barry L. Padgett sold 4,690 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $20.22, for a total transaction of $94,831.80. Following the sale, the director now directly owns 17,387 shares in the company, valued at $351,565.14. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Johanna Flower sold 4,800 shares of the company's stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $23.15, for a total value of $111,120.00. Following the transaction, the director now directly owns 23,451 shares in the company, valued at $542,890.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Barry L. Padgett sold 4,690 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $20.22, for a total transaction of $94,831.80. Following the completion of the transaction, the director now owns 17,387 shares in the company, valued at $351,565.14. 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 over the last ninety days. Company insiders own 26.66% 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.