Jump Financial LLC Sells 72,195 Shares of Freshworks Inc. (NASDAQ:FRSH)

Jump Financial LLC trimmed its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 73.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 26,531 shares of the company's stock after selling 72,195 shares during the period. Jump Financial LLC's holdings in Freshworks were worth $623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Teacher Retirement System of Texas raised its holdings in shares of Freshworks by 13.9% in the fourth quarter. Teacher Retirement System of Texas now owns 28,714 shares of the company's stock valued at $674,000 after buying an additional 3,503 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Freshworks by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,304,325 shares of the company's stock valued at $30,639,000 after buying an additional 67,254 shares during the last quarter. Sapient Capital LLC purchased a new stake in shares of Freshworks in the fourth quarter valued at about $306,000. Summit Global Investments purchased a new stake in shares of Freshworks in the fourth quarter valued at about $752,000. Finally, Victory Capital Management Inc. raised its holdings in Freshworks by 31.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,308 shares of the company's stock worth $501,000 after purchasing an additional 5,093 shares in the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Rathnagirish Mathrubootham sold 430,149 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.44, for a total value of $8,792,245.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Rathnagirish Mathrubootham sold 430,149 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.44, for a total transaction of $8,792,245.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Barry L. Padgett sold 4,690 shares of the firm'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 sale, the director now owns 17,387 shares in the company, valued at approximately $351,565.14. The disclosure for this sale can be found here. Insiders have sold 455,262 shares of company stock worth $9,227,461 over the last ninety days. 19.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on FRSH. Morgan Stanley cut their price target on shares of Freshworks from $22.00 to $18.00 and set an "equal weight" rating for the company in a report on Thursday, May 2nd. Needham & Company LLC cut their price target on shares of Freshworks from $30.00 to $20.00 and set a "buy" rating for the company in a report on Monday. Oppenheimer cut shares of Freshworks from an "outperform" rating to a "market perform" rating in a report on Thursday, May 2nd. Canaccord Genuity Group cut their price target on shares of Freshworks from $27.00 to $20.00 and set a "buy" rating for the company in a report on Friday, May 3rd. Finally, Barclays cut their price target on shares of Freshworks from $20.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

Freshworks Trading Down 2.8 %

Shares of FRSH stock traded down $0.40 during trading hours on Tuesday, hitting $13.74. The company's stock had a trading volume of 1,609,244 shares, compared to its average volume of 2,801,806. The business has a fifty day moving average of $17.05 and a 200-day moving average of $19.66. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of -34.35 and a beta of 0.88. Freshworks Inc. has a twelve month low of $13.01 and a twelve month high of $24.98.

Freshworks Company 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.