Tpg Gp A LLC Acquires 969,283 Shares of Freshworks Inc. (NASDAQ:FRSH)

Tpg Gp A LLC lifted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH) by 28.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,346,855 shares of the company’s stock after purchasing an additional 969,283 shares during the quarter. Freshworks comprises approximately 1.1% of Tpg Gp A LLC’s holdings, making the stock its 18th biggest position. Tpg Gp A LLC’s holdings in Freshworks were worth $70,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avion Wealth acquired a new position in Freshworks in the 4th quarter valued at $26,000. Blue Trust Inc. lifted its holdings in shares of Freshworks by 32.2% during the fourth quarter. Blue Trust Inc. now owns 3,918 shares of the company’s stock worth $63,000 after buying an additional 954 shares in the last quarter. National Bank of Canada FI lifted its holdings 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 lifted its holdings 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 lifted its holdings 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 in the last quarter. 75.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FRSH. UBS Group dropped their target price on Freshworks from $22.00 to $19.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Barclays lifted their target price on Freshworks from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. StockNews.com raised Freshworks from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Cantor Fitzgerald lifted their target price on Freshworks from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group dropped their target price on Freshworks from $22.00 to $20.00 and set a “hold” rating for the company in a report on Monday, March 31st. One 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.21.

Freshworks Stock Up 0.1%

FRSH stock opened at $15.49 on Monday. The company has a market cap of $4.57 billion, a PE ratio of -48.41 and a beta of 0.97. The business has a 50-day simple moving average of $14.12 and a 200 day simple moving average of $15.70. Freshworks Inc. has a 52 week low of $10.81 and a 52 week high of $19.77.

Freshworks (NASDAQ:FRSH) last issued its 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. The firm had revenue of $196.27 million during the quarter, compared to the consensus estimate of $191.90 million. Freshworks had a negative return on equity of 6.63% and a negative net margin of 13.24%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. On average, analysts anticipate that Freshworks Inc. will post -0.19 EPS for the current fiscal year.

Insider Transactions at Freshworks

In other news, Director Zachary Nelson sold 8,433 shares of the business’s 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 sale, the director now directly owns 24,187 shares in the company, valued at approximately $404,406.64. The trade was a 25.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,871 shares of company stock worth $629,278. Insiders own 19.15% of the company’s stock.

Freshworks 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.