Aigen Investment Management LP Sells 105,807 Shares of Freshworks Inc. (NASDAQ:FRSH)

Aigen Investment Management LP decreased its stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 80.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 26,526 shares of the company's stock after selling 105,807 shares during the period. Aigen Investment Management LP's holdings in Freshworks were worth $623,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Neo Ivy Capital Management acquired a new position in Freshworks during the 3rd quarter worth approximately $81,000. Quest Partners LLC bought a new stake in shares of Freshworks in the 4th quarter valued at $166,000. Jasper Ridge Partners L.P. bought a new stake in shares of Freshworks in the 3rd quarter valued at $217,000. Northside Capital Management LLC bought a new stake in shares of Freshworks in the 4th quarter valued at $226,000. Finally, Xponance Inc. bought a new stake in shares of Freshworks in the 4th quarter valued at $231,000. Institutional investors own 75.58% of the company's stock.

Freshworks Stock Performance

Shares of FRSH stock traded down $0.46 on Thursday, hitting $13.29. The stock had a trading volume of 2,409,180 shares, compared to its average volume of 2,782,816. The business has a 50 day moving average of $16.85 and a 200 day moving average of $19.58. Freshworks Inc. has a 12-month low of $13.01 and a 12-month high of $24.98.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. The company had revenue of $165.14 million during the quarter, compared to analyst estimates of $163.53 million. Freshworks had a negative net margin of 18.93% and a negative return on equity of 10.66%. Equities research analysts forecast that Freshworks Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity at Freshworks

In other Freshworks news, Director Jennifer H. Taylor sold 7,028 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $13.74, for a total transaction of $96,564.72. Following the completion of the transaction, the director now owns 19,991 shares in the company, valued at $274,676.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Freshworks news, CEO Rathnagirish Mathrubootham sold 430,149 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available at this link. Also, Director Jennifer H. Taylor sold 7,028 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $13.74, for a total transaction of $96,564.72. Following the transaction, the director now owns 19,991 shares of the company's stock, valued at approximately $274,676.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 455,262 shares of company stock worth $9,227,461. 19.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays cut their target price on shares of Freshworks from $20.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, May 3rd. Wolfe Research raised shares of Freshworks from a "peer perform" rating to an "outperform" rating and set a $27.00 target price on the stock in a research note on Tuesday, February 20th. JMP Securities cut their target price on shares of Freshworks from $29.00 to $21.00 and set a "market outperform" rating on the stock in a research note on Thursday, May 2nd. Piper Sandler cut their target price on shares of Freshworks from $28.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, May 2nd. Finally, Needham & Company LLC cut their target price on shares of Freshworks from $30.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.00.

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.