DekaBank Deutsche Girozentrale Sells 65,100 Shares of Freshworks Inc. (NASDAQ:FRSH)

DekaBank Deutsche Girozentrale cut its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 85.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,799 shares of the company's stock after selling 65,100 shares during the period. DekaBank Deutsche Girozentrale's holdings in Freshworks were worth $258,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FRSH shares. Piper Sandler increased their target price on Freshworks from $24.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 2nd. Morgan Stanley lowered their target price on Freshworks from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Needham & Company LLC increased their target price on Freshworks from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, December 28th. JMP Securities raised their price objective on Freshworks from $25.00 to $29.00 and gave the stock a "market outperform" rating in a research note on Wednesday, February 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $25.00 target price on shares of Freshworks in a report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.00.

Freshworks Trading Up 2.3 %

FRSH traded up $0.39 on Wednesday, reaching $17.69. The stock had a trading volume of 2,187,477 shares, compared to its average volume of 2,538,058. Freshworks Inc. has a fifty-two week low of $12.22 and a fifty-two week high of $24.98. The firm has a 50-day moving average of $19.09 and a 200-day moving average of $20.08. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of -37.64 and a beta of 0.90.

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 analysts' consensus estimates 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 business had revenue of $160.11 million during the quarter, compared to analysts' expectations of $158.11 million. Sell-side analysts anticipate that Freshworks Inc. will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at Freshworks

In related news, Director Roxanne S. Austin sold 6,303 shares of the company's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $21.54, for a total transaction of $135,766.62. Following the sale, the director now owns 88,431 shares in the company, valued at approximately $1,904,803.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Freshworks news, Director Roxanne S. Austin sold 6,303 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $21.54, for a total value of $135,766.62. Following the transaction, the director now owns 88,431 shares in the company, valued at $1,904,803.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jennifer H. Taylor sold 7,035 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $18.08, for a total value of $127,192.80. Following the completion of the transaction, the director now owns 19,991 shares in the company, valued at approximately $361,437.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 460,792 shares of company stock worth $9,408,403. 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.