1,545,483 Shares in Freshworks Inc. (NASDAQ:FRSH) Acquired by Ninety One UK Ltd

Ninety One UK Ltd bought a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,545,483 shares of the company's stock, valued at approximately $36,303,000. Ninety One UK Ltd owned approximately 0.52% of Freshworks at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Freshworks by 14.6% during the 3rd quarter. Vanguard Group Inc. now owns 18,530,801 shares of the company's stock valued at $369,134,000 after purchasing an additional 2,363,550 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Freshworks during the third quarter worth about $2,445,000. Neo Ivy Capital Management bought a new stake in Freshworks during the third quarter worth about $81,000. Lord Abbett & CO. LLC bought a new stake in Freshworks during the third quarter worth about $34,644,000. Finally, Moody Aldrich Partners LLC bought a new stake in Freshworks during the fourth quarter worth about $4,482,000. Institutional investors own 75.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FRSH shares. Wolfe Research raised shares of Freshworks from a "peer perform" rating to an "outperform" rating and set a $27.00 price objective on the stock in a research note on Tuesday, February 20th. Jefferies Financial Group raised shares of Freshworks from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $20.00 to $30.00 in a research note on Friday, January 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $25.00 price objective on shares of Freshworks in a research note on Wednesday, February 7th. JMP Securities lifted their target price 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. Finally, Morgan Stanley decreased their target price on shares of Freshworks from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Freshworks has a consensus rating of "Moderate Buy" and an average target price of $25.00.

Insider Buying and Selling at Freshworks

In other Freshworks news, Director Roxanne S. Austin sold 6,303 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $21.54, for a total transaction of $135,766.62. Following the completion of the sale, the director now directly owns 88,431 shares of the company's stock, valued at $1,904,803.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Freshworks news, Director Jennifer H. Taylor sold 7,035 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $21.71, for a total transaction of $152,729.85. Following the completion of the sale, the director now directly owns 19,490 shares of the company's stock, valued at $423,127.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roxanne S. Austin sold 6,303 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $21.54, for a total transaction of $135,766.62. Following the completion of the transaction, the director now owns 88,431 shares of the company's stock, valued at $1,904,803.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 460,792 shares of company stock valued at $9,408,403. Insiders own 26.66% of the company's stock.

Freshworks Stock Performance

Shares of FRSH traded down $0.06 during mid-day trading on Friday, hitting $17.59. 3,974,460 shares of the company traded hands, compared to its average volume of 2,554,601. The stock has a 50-day moving average price of $18.94 and a two-hundred day moving average price of $20.05. Freshworks Inc. has a 1 year low of $12.22 and a 1 year high of $24.98. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of -37.43 and a beta of 0.90.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $160.11 million during the quarter, compared to analysts' expectations of $158.11 million. On average, analysts forecast that Freshworks Inc. will post -0.37 EPS 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.