Nebula Research & Development LLC Makes New $597,000 Investment in Freshworks Inc. (NASDAQ:FRSH)

Nebula Research & Development LLC acquired a new stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 36,946 shares of the company's stock, valued at approximately $597,000.

Several other institutional investors also recently modified their holdings of FRSH. Avion Wealth bought a new position in Freshworks during the fourth quarter worth about $26,000. Blue Trust Inc. boosted its stake in shares of Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock worth $63,000 after acquiring an additional 954 shares during the period. National Bank of Canada FI increased its holdings in shares of Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company's stock worth $64,000 after acquiring an additional 3,700 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Freshworks by 102.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company's stock valued at $71,000 after acquiring an additional 2,223 shares during the period. Finally, Covestor Ltd boosted its position in Freshworks by 30.2% during the fourth quarter. Covestor Ltd now owns 4,686 shares of the company's stock worth $76,000 after purchasing an additional 1,087 shares during the period. 75.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Freshworks

In other news, Director Johanna Flower sold 1,450 shares of Freshworks stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $26,114.50. Following the sale, the director now directly owns 41,491 shares of the company's stock, valued at approximately $747,252.91. This trade represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Zachary Nelson sold 8,442 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $18.30, for a total value of $154,488.60. Following the completion of the transaction, the director now directly owns 24,187 shares of the company's stock, valued at $442,622.10. This represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,177 shares of company stock valued at $498,042 over the last ninety days. 19.15% of the stock is owned by corporate insiders.

Freshworks Trading Up 1.5 %

FRSH stock traded up $0.22 during mid-day trading on Friday, hitting $14.70. The stock had a trading volume of 2,827,578 shares, compared to its average volume of 3,307,125. The firm has a fifty day simple moving average of $14.35 and a 200 day simple moving average of $15.40. The firm has a market capitalization of $4.43 billion, a P/E ratio of -45.94 and a beta of 0.98. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.13 by $0.05. The business had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. The company's revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. As a group, equities analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a report on Wednesday. UBS Group decreased their target price on Freshworks from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday. Barclays lifted their price target on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $27.00 price objective on shares of Freshworks in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $20.21.

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.