655,791 Shares in Freshworks Inc. (NASDAQ:FRSH) Acquired by Ninety One North America Inc.

Ninety One North America Inc. purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 655,791 shares of the company's stock, valued at approximately $15,405,000. Freshworks comprises about 0.8% of Ninety One North America Inc.'s investment portfolio, making the stock its 29th biggest holding. Ninety One North America Inc. owned approximately 0.22% of Freshworks as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in shares of Freshworks by 373.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,663 shares of the company's stock worth $33,000 after purchasing an additional 1,312 shares during the period. Quarry LP bought a new position in shares of Freshworks in the 2nd quarter worth approximately $35,000. Quantbot Technologies LP bought a new position in shares of Freshworks in the 1st quarter worth approximately $59,000. UBS Group AG increased its holdings in Freshworks by 117.5% in 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 in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in Freshworks in the 3rd quarter worth approximately $81,000. Institutional investors own 75.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler increased 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 for the company 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. Jefferies Financial Group raised shares of Freshworks from a "hold" rating to a "buy" rating and increased their target price for the stock from $20.00 to $30.00 in a report on Friday, January 5th. Finally, Needham & Company LLC increased their price objective on shares of Freshworks from $25.00 to $30.00 and gave the company 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's stock. According to data from MarketBeat, Freshworks currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.00.

Freshworks Trading Down 0.2 %

Shares of FRSH stock traded down $0.04 on Thursday, reaching $17.65. The company's stock had a trading volume of 2,359,265 shares, compared to its average volume of 2,535,673. The stock's fifty day simple moving average is $19.09 and its 200-day simple moving average is $20.08. Freshworks Inc. has a 1 year low of $12.22 and a 1 year high of $24.98. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of -37.72 and a beta of 0.90.

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

Insider Buying and Selling

In related news, Director Barry L. Padgett sold 4,690 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $20.22, for a total value of $94,831.80. Following the completion of the sale, the director now directly owns 17,387 shares in the company, valued at $351,565.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Barry L. Padgett sold 4,690 shares of Freshworks stock in a transaction 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 sale, the director now directly owns 17,387 shares in the company, valued at $351,565.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jennifer H. Taylor sold 7,035 shares of Freshworks stock in a transaction 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 sale, the director now owns 19,991 shares of the company's stock, valued at $361,437.28. The disclosure for this sale can be found here. Insiders sold a total of 460,792 shares of company stock worth $9,408,403 over the last three months. 26.66% of the stock is owned by insiders.

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.