State of Tennessee Department of Treasury Makes New $337,000 Investment in Freshworks Inc. (NASDAQ:FRSH)

State of Tennessee Department of Treasury purchased a new stake in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,829 shares of the company's stock, valued at approximately $337,000.

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

Insider Activity at Freshworks

In other news, Director Johanna Flower sold 1,450 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $18.01, for a total value of $26,114.50. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mika Yamamoto sold 2,859 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $16.74, for a total transaction of $47,859.66. Following the completion of the transaction, the insider now directly owns 615,893 shares of the company's stock, valued at $10,310,048.82. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,883 shares of company stock worth $464,113. Insiders own 19.15% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FRSH. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 target price on shares of Freshworks in a research note on Monday, March 17th. Morgan Stanley upped their price objective on shares of Freshworks from $14.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Scotiabank lifted their target price on shares of Freshworks from $14.00 to $18.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. Canaccord Genuity Group upped their price target 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. Finally, Jefferies Financial Group lowered their price objective on Freshworks from $22.00 to $20.00 and set a "hold" rating on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Freshworks has a consensus rating of "Moderate Buy" and an average target price of $20.21.

Freshworks Trading Down 1.2 %

NASDAQ FRSH traded down $0.17 on Friday, reaching $14.56. 2,105,986 shares of the company were exchanged, compared to its average volume of 3,276,433. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The stock has a market capitalization of $4.39 billion, a P/E ratio of -45.50 and a beta of 0.97. The business's fifty day moving average price is $14.12 and its 200 day moving average price is $15.54.

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, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $196.27 million during the quarter, compared to analysts' expectations of $191.90 million. Freshworks had a negative net margin of 13.24% and a negative return on equity of 6.63%. Freshworks's revenue was up 18.9% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. Equities research analysts forecast that Freshworks Inc. will post -0.19 earnings per share for the current year.

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.