Numerai GP LLC Trims Stake in Freshworks Inc. (NASDAQ:FRSH)

Numerai GP LLC lessened its position in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 95.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,151 shares of the company's stock after selling 318,921 shares during the quarter. Numerai GP LLC's holdings in Freshworks were worth $229,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Barclays PLC raised its position in Freshworks by 33.4% in the third quarter. Barclays PLC now owns 337,621 shares of the company's stock valued at $3,875,000 after purchasing an additional 84,568 shares during the period. Nisa Investment Advisors LLC raised its holdings 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 period. Blue Trust Inc. raised its holdings 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 period. KBC Group NV lifted its position in Freshworks by 59.1% in the fourth quarter. KBC Group NV now owns 7,604 shares of the company's stock valued at $123,000 after buying an additional 2,824 shares during the last quarter. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Freshworks during the fourth quarter valued at about $589,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Price Performance

Shares of FRSH stock traded up $0.06 during trading hours on Thursday, reaching $14.57. 1,116,817 shares of the stock were exchanged, compared to its average volume of 3,277,271. The business's fifty day moving average is $14.12 and its two-hundred day moving average is $15.70. The firm has a market capitalization of $4.30 billion, a P/E ratio of -45.48 and a beta of 0.97. Freshworks Inc. has a 12-month low of $10.81 and a 12-month 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 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 company had revenue of $196.27 million for the quarter, compared to the consensus estimate of $191.90 million. During the same period in the prior year, the firm posted $0.10 EPS. The company's quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities research analysts predict that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FRSH. JMP Securities reaffirmed a "market outperform" rating and set a $27.00 price objective on shares of Freshworks in a research report on Wednesday, April 30th. Scotiabank upped their price target on Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. Robert W. Baird set a $18.00 price target on Freshworks in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price objective on shares of Freshworks in a report on Monday, March 17th. Finally, Barclays increased their target price on Freshworks from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Freshworks presently has an average rating of "Moderate Buy" and a consensus price target of $20.21.

Insider Activity at Freshworks

In other news, insider Mika Yamamoto sold 2,859 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.74, for a total value of $47,859.66. Following the transaction, the insider now owns 615,893 shares in the company, valued at approximately $10,310,048.82. This represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Zachary Nelson sold 8,433 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $14.69, for a total value of $123,880.77. Following the sale, the director now owns 24,890 shares of the company's stock, valued at approximately $365,634.10. The trade was a 25.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,421 shares of company stock valued at $603,164 over the last quarter. 11.17% of the stock is owned by insiders.

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.