Tudor Investment Corp ET AL Invests $7.62 Million in Freshworks Inc. (NASDAQ:FRSH)

Tudor Investment Corp ET AL purchased a new position in Freshworks Inc. (NASDAQ:FRSH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 471,178 shares of the company's stock, valued at approximately $7,619,000. Tudor Investment Corp ET AL owned about 0.16% of Freshworks as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC grew its stake in shares of Freshworks by 33.4% in the third quarter. Barclays PLC now owns 337,621 shares of the company's stock worth $3,875,000 after purchasing an additional 84,568 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Freshworks in the 3rd quarter worth approximately $534,000. Franklin Resources Inc. increased its stake in shares of Freshworks by 18.1% during the third quarter. Franklin Resources Inc. now owns 3,945,001 shares of the company's stock valued at $44,934,000 after buying an additional 604,658 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Freshworks by 49.8% during the third quarter. JPMorgan Chase & Co. now owns 5,270,338 shares of the company's stock valued at $60,503,000 after acquiring an additional 1,752,995 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Freshworks in the fourth quarter worth $190,000. 75.58% of the stock is owned by institutional investors.

Freshworks Stock Performance

Shares of NASDAQ:FRSH traded up $0.22 during trading on Friday, reaching $14.70. 2,827,578 shares of the stock traded hands, compared to its average volume of 3,307,125. Freshworks Inc. has a 52-week low of $10.81 and a 52-week high of $19.77. The stock has a market cap of $4.43 billion, a P/E ratio of -45.94 and a beta of 0.98. The stock has a 50-day moving average of $14.35 and a two-hundred day moving average of $15.40.

Freshworks (NASDAQ:FRSH - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.05. The business had revenue of $196.27 million during the quarter, compared to analyst estimates of $191.90 million. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. The company's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. Sell-side analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Mika Yamamoto sold 3,574 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $14.20, for a total transaction of $50,750.80. Following the completion of the transaction, the insider now directly owns 611,604 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Johanna Flower sold 1,450 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $18.01, for a total transaction of $26,114.50. Following the transaction, the director now owns 41,491 shares in the company, valued at approximately $747,252.91. This trade represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,177 shares of company stock valued at $498,042. 19.15% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on FRSH. Piper Sandler reaffirmed an "overweight" rating and set a $22.00 price objective (up from $20.00) on shares of Freshworks in a research report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $25.00 price target on shares of Freshworks in a research report on Monday, March 17th. Scotiabank increased their price objective on Freshworks from $14.00 to $18.00 and gave the stock a "sector perform" rating in a report on Wednesday. StockNews.com upgraded shares of Freshworks from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Finally, Canaccord Genuity Group increased their price target 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $20.21.

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.