Northern Trust Corp Grows Stock Holdings in Freshworks Inc. (NASDAQ:FRSH)

Northern Trust Corp increased its holdings in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,039,458 shares of the company's stock after acquiring an additional 193,322 shares during the period. Northern Trust Corp owned about 0.67% of Freshworks worth $32,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FRSH. Barclays PLC increased its stake in Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company's stock valued at $3,875,000 after buying an additional 84,568 shares during the last quarter. Tidal Investments LLC purchased a new stake in Freshworks in the 3rd quarter valued at about $534,000. Nisa Investment Advisors LLC increased 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 buying an additional 2,223 shares during the last quarter. Blue Trust Inc. increased its stake in Freshworks by 32.2% in the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company's stock valued at $63,000 after buying an additional 954 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Freshworks by 59.1% during the 4th quarter. KBC Group NV now owns 7,604 shares of the company's stock worth $123,000 after purchasing an additional 2,824 shares during the last quarter. Institutional investors and hedge funds own 75.58% of the company's stock.

Wall Street Analyst Weigh In

FRSH has been the subject of several research analyst reports. Needham & Company LLC restated a "buy" rating and set a $25.00 price target on shares of Freshworks in a research note on Monday, March 17th. Morgan Stanley raised their price target on shares of Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. UBS Group decreased their price target on shares of Freshworks from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Oppenheimer cut their price objective on shares of Freshworks from $24.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company raised their price objective on shares of Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $20.21.

Insider Activity

In related news, Director Johanna Flower sold 1,450 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $18.01, for a total transaction of $26,114.50. Following the sale, the director now owns 41,491 shares of the company's stock, valued at $747,252.91. The trade was a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.72, for a total transaction of $140,999.76. Following the sale, the director now directly owns 24,187 shares in the company, valued at $404,406.64. The trade was a 25.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,871 shares of company stock valued at $629,278. Corporate insiders own 19.15% of the company's stock.

Freshworks Trading Down 0.5%

Shares of FRSH stock traded down $0.08 during mid-day trading on Friday, reaching $15.41. The stock had a trading volume of 433,843 shares, compared to its average volume of 3,267,608. The stock's 50-day moving average price is $14.11 and its two-hundred day moving average price is $15.62. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The firm has a market capitalization of $4.54 billion, a PE ratio of -48.14 and a beta of 0.97.

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

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.