Freshworks Inc. (NASDAQ:FRSH) Shares Bought by Sapience Investments LLC

Sapience Investments LLC boosted its stake in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,594 shares of the company's stock after purchasing an additional 22,924 shares during the quarter. Freshworks comprises approximately 1.6% of Sapience Investments LLC's holdings, making the stock its 21st largest holding. Sapience Investments LLC owned 0.06% of Freshworks worth $2,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Smith Group Asset Management LLC bought a new position in shares of Freshworks during the fourth quarter valued at approximately $589,000. Barclays PLC grew its holdings in shares of Freshworks by 33.4% during the third 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. Raymond James Financial Inc. purchased a new stake in shares of Freshworks during the fourth quarter valued at $20,666,000. Lisanti Capital Growth LLC acquired a new position in Freshworks during the fourth quarter valued at $2,290,000. Finally, Ceera Investments LLC lifted its position in Freshworks by 1,261.7% during the fourth quarter. Ceera Investments LLC now owns 455,420 shares of the company's stock valued at $7,364,000 after purchasing an additional 421,975 shares during the period. Hedge funds and other institutional investors own 75.58% of the company's stock.

Freshworks Stock Performance

Shares of Freshworks stock traded down $0.11 during midday trading on Tuesday, hitting $14.74. 2,914,290 shares of the company traded hands, compared to its average volume of 3,280,586. The firm's fifty day moving average price is $14.13 and its 200-day moving average price is $15.71. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of -46.06 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 released its earnings results 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 company had revenue of $196.27 million for the quarter, compared to the consensus estimate of $191.90 million. During the same quarter in the previous year, the company earned $0.10 EPS. Freshworks's quarterly revenue was up 18.9% compared to the same quarter last year. Equities research analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

FRSH has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price objective on shares of Freshworks from $19.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on Freshworks from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. Robert W. Baird set a $18.00 price objective on shares of Freshworks in a report on Wednesday, February 12th. Cantor Fitzgerald increased their price target on shares of Freshworks from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley upped their price target on Freshworks from $14.00 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Freshworks currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.21.

Insiders Place Their Bets

In related news, insider Mika Yamamoto sold 3,574 shares of Freshworks stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $14.20, for a total value of $50,750.80. Following the sale, the insider now owns 611,604 shares in the company, valued at $8,684,776.80. The trade was a 0.58% 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 value of $140,999.76. Following the completion of the transaction, the director now directly owns 24,187 shares of the company's stock, valued at approximately $404,406.64. This trade represents a 25.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,871 shares of company stock worth $629,278 over the last quarter. 11.17% of the stock is currently owned by company 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.