Jefferies Financial Group Inc. Sells 2,390 Shares of Freshworks Inc. (NASDAQ:FRSH)

Jefferies Financial Group Inc. trimmed its position in Freshworks Inc. (NASDAQ:FRSH) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,610 shares of the company’s stock after selling 2,390 shares during the period. Jefferies Financial Group Inc.’s holdings in Freshworks were worth $2,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avion Wealth bought a new stake in shares of Freshworks during the fourth quarter valued at approximately $26,000. Blue Trust Inc. increased its stake in Freshworks by 32.2% during the 4th quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock valued at $63,000 after purchasing an additional 954 shares in the last quarter. National Bank of Canada FI increased its stake in Freshworks by 1,385.8% during the 4th quarter. National Bank of Canada FI now owns 3,967 shares of the company’s stock valued at $64,000 after purchasing an additional 3,700 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Freshworks by 102.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,393 shares of the company’s stock valued at $71,000 after purchasing an additional 2,223 shares in the last quarter. Finally, Covestor Ltd increased its position 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 acquiring an additional 1,087 shares in the last quarter. 75.58% of the stock is owned by institutional investors.

Insider Activity at Freshworks

In related news, Director Jennifer H. Taylor sold 4,685 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.41, for a total transaction of $72,195.85. Following the sale, the director now owns 37,895 shares of the company’s stock, valued at approximately $583,961.95. This represents a 11.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roxanne S. Austin sold 6,303 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $14.75, for a total value of $92,969.25. Following the sale, the director now directly owns 169,586 shares in the company, valued at $2,501,393.50. This trade represents a 3.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,871 shares of company stock worth $629,278. 19.15% of the stock is owned by corporate insiders.

Freshworks Price Performance

Shares of NASDAQ FRSH opened at $15.98 on Wednesday. Freshworks Inc. has a one year low of $10.81 and a one year high of $19.77. The business’s fifty day moving average price is $14.10 and its 200-day moving average price is $15.59. The stock has a market capitalization of $4.71 billion, a PE ratio of -49.94 and a beta of 0.97.

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

Analyst Ratings Changes

Several research firms have recently commented on FRSH. Cantor Fitzgerald boosted their target price on shares of Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Barclays raised their target price on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Scotiabank increased their price target on Freshworks from $14.00 to $18.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 30th. Morgan Stanley raised their price objective on Freshworks from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st. Finally, StockNews.com upgraded shares of Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.