Freshworks Inc. (NASDAQ:FRSH) Shares Purchased by Jasper Ridge Partners L.P.

Jasper Ridge Partners L.P. boosted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 39.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,719 shares of the company’s stock after buying an additional 12,180 shares during the quarter. Jasper Ridge Partners L.P.’s holdings in Freshworks were worth $691,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avion Wealth acquired a new stake in shares of Freshworks in the fourth quarter valued at $26,000. Blue Trust Inc. boosted its stake in shares of 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. National Bank of Canada FI grew its position in shares of 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 buying an additional 3,700 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of 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 buying an additional 2,223 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Freshworks by 30.2% during the fourth quarter. Covestor Ltd now owns 4,686 shares of the company’s stock worth $76,000 after buying an additional 1,087 shares during the period. Hedge funds and other institutional investors own 75.58% of the company’s stock.

Insider Buying and Selling

In other news, insider Mika Yamamoto sold 3,574 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $14.66, for a total value of $52,394.84. Following the completion of the sale, the insider now directly owns 608,030 shares of the company’s stock, valued at $8,913,719.80. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johanna Flower sold 1,450 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $18.01, for a total value of $26,114.50. Following the transaction, the director now directly owns 41,491 shares in the company, valued at $747,252.91. This represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,883 shares of company stock valued at $464,113 over the last ninety days. Corporate insiders own 19.15% of the company’s stock.

Freshworks Stock Down 1.2 %

FRSH opened at $14.56 on Friday. The business has a 50 day moving average price of $14.12 and a two-hundred day moving average price of $15.54. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The company has a market cap of $4.30 billion, a PE ratio of -45.50 and a beta of 0.97.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on FRSH. Cantor Fitzgerald increased their price objective on shares of Freshworks from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Robert W. Baird set a $18.00 price objective on Freshworks in a research report on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Freshworks in a research report on Monday, March 17th. Jefferies Financial Group lowered their price target on Freshworks from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, March 31st. Finally, Morgan Stanley increased their price target on shares of Freshworks from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Freshworks has an average rating of “Moderate Buy” and a consensus price target of $20.21.

Freshworks Company 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.