22,910 Shares in Freshworks Inc. (NASDAQ:FRSH) Purchased by PharVision Advisers LLC

PharVision Advisers LLC bought a new stake in shares of Freshworks Inc. (NASDAQ:FRSH) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 22,910 shares of the company’s stock, valued at approximately $370,000.

Several other hedge funds also recently modified their holdings of FRSH. Smith Group Asset Management LLC bought a new stake in Freshworks in the fourth quarter valued at about $589,000. Barclays PLC increased its stake in shares of Freshworks by 33.4% in the 3rd quarter. Barclays PLC now owns 337,621 shares of the company’s stock valued at $3,875,000 after acquiring an additional 84,568 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Freshworks in the 4th quarter valued at about $20,666,000. Lisanti Capital Growth LLC acquired a new stake in shares of Freshworks in the 4th quarter valued at approximately $2,290,000. Finally, Ceera Investments LLC boosted its stake in Freshworks by 1,261.7% during the 4th quarter. Ceera Investments LLC now owns 455,420 shares of the company’s stock worth $7,364,000 after acquiring an additional 421,975 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Analysts Set New Price Targets

FRSH has been the subject of a number of research analyst reports. Canaccord Genuity Group boosted their target price on Freshworks from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays boosted their price objective on Freshworks from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Robert W. Baird set a $18.00 target price on Freshworks in a research note on Wednesday, February 12th. Morgan Stanley lifted 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. Finally, Oppenheimer lowered their price objective on shares of Freshworks from $24.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Freshworks has an average rating of “Moderate Buy” and an average target price of $20.21.

Insider Buying and Selling

In other news, Director Johanna Flower sold 1,450 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $18.01, for a total value of $26,114.50. Following the completion of the sale, the director now owns 41,491 shares of the company’s stock, valued at approximately $747,252.91. The trade was a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Zachary Nelson sold 8,433 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.72, for a total transaction 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. The trade was a 25.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,871 shares of company stock worth $629,278. Corporate insiders own 11.17% of the company’s stock.

Freshworks Stock Down 0.7%

NASDAQ FRSH opened at $14.74 on Wednesday. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77. The business has a 50 day moving average price of $14.13 and a 200-day moving average price of $15.71. The company has a market cap of $4.35 billion, a price-to-earnings ratio of -46.06 and a beta of 0.97.

Freshworks (NASDAQ:FRSH) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $196.27 million for the quarter, compared to analysts’ expectations of $191.90 million. During the same quarter last year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts anticipate 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.